28 November 2017
International law firm Watson Farley & Williams (“WFW”) has advised Singapore-based RCMA Group (“RCMA”) on its agreement to sell its rubber trading and distribution business in Europe, the United States, Singapore and Thailand. The purchaser will be SGX-listed Halcyon Agri Corporation Ltd (“Halcyon Agri”) which has a market cap of approximately SG$933m. The completion of the deal is subject to merger control approval in a number of jurisdictions.
The transaction is structured as a mixed assets and equity deal with target assets and shares spread across a number of jurisdictions. This led to legal advice being required in relation to a number of jurisdictions and different specialisms, including employment, real estate and competition law.
The WFW London team advising RCMA was led by corporate Partner Daniel Saunders, assisted by Associate Oliver Gray and Trainee Millie Farmello. Competition advice was provided by Partner Jeremy Robinson and Senior Associate Vineet Budhiraja and employment advice by Partner Angharad Harris and Senior Associate Anna Robinson.
The London deal team was also supported by colleagues in the firm’s New York, Bangkok and Singapore offices, with Dutch law advice provided by Maarten van der Graaf and Claudia Beele of Amsterdam-based law firm Stek.
Daniel commented: “WFW have built a strong relationship with RCMA and we are delighted to be able to play a part in their continued success. It has been a pleasure to work once again with the RCMA team”.
RCMA CEO Chris Pardey commented: “The RCMA Group has had a long-standing relationship with WFW. Daniel’s team has been responsive and pragmatic, and we have been very satisfied with the quality of their work in this project and in our previous M&A projects”.
Halcyon Agri were advised by Clifford Chance.