Allen & Gledhill has advised Singaporean online classifieds business Carousell on its agreement to merge with 701Search, a subsidiary of Norwegian telecoms firm Telenor Group, which was represented by Bird & Bird.

According to Reuters, the merger values the combined company at more than $850 million. 701Search owns online marketplaces Mudah in Malaysia, Cho Tot in Vietnam, and OneKyat in Myanmar.

Telenor will become the single-largest minority shareholder in Carousell with a 32 percent stake in the combined company, Reuters added. 701Search will cease to be a subsidiary company of Telenor Group and will merge its operations with Carousell with immediate effect.

The Bird & Bird team included partners Graeme Maguire, Marcus Chow, Seow Hui Goh, Michelle Chan and Beng Chai Tay.

 

To contact the editorial team, please email ALBEditor@thomsonreuters.com.

Related Articles

Appointments

East & Concord HK firm makes M&A hire from Akin Beijing

by Charlie Wu 吴卓言 |

Yang & Yang Solicitors, PRC law firm East & Concord Partners’ Hong Kong association firm, has added M&A expert Dennis Yeung as a partner from the Beijing office of Akin Gump Strauss Hauer & Feld, which closed recently.

Appointments

Yulchon taps Yoon & Yang for four-partner M&A team

by Nimitt Dixit |

South Korean Big Six firm Yulchon has continued its recent expansion by poaching four seasoned M&A partners from Yoon & Yang. The quartet includes Sung-Jin Kim, the former head of the M&A practice at Yoon & Yang, along with Kayoung Kim, Hyerim Kang, and Junghwan Lee.

Appointments

Vietnam’s Asia Counsel forms European alliance, hires partner from rival

by Nimitt Dixit |

Vietnamese boutique Asia Counsel has announced that it has entered into an alliance with European law firm Kinstellar, and also hired M&A veteran Justin Gisz as a partner from local rival Frasers Law Company.