| AmInvestment Group Berhad |
| Value |
: |
RM2.4 billion |
| Role |
: |
Main Adviser |
| Deal Nature |
: |
Scheme of arrangement |
| Deal Highlights |
: |
The privatisation exercise was implemented via a scheme of arrangement and capital reduction exercise to ensure that there is greater certainty for the successful completion of the privatisation exercise. Valuation of AmInvestment Group Berhad (“AIGB”) at RM4.5 billion represented 15.6% premium to AIGB’s market value prior to the announcement and 164.3% premium over the initial public offering price. This deal was named the Best Privatisation Deal of the Year in South East Asia in the Alpha South East Asia Deal Awards 2008. |
|
| Employees Provident Fund Board |
| Value |
: |
RM10.94 billion |
| Role |
: |
Main Adviser |
| Deal Nature |
: |
Take-over offer of Rashid Hussain Berhad and RHB Capital Berhad |
| Deal Highlights |
: |
The biggest deal in Malaysia’s banking industry to date. The Employees Provident Fund Board (“EPF”) trumped rival bidders EON Capital Berhad and Kuwait Finance House by sealing a deal with Utama Banking Group Berhad to emerge as the controlling shareholder of the RHB Group. |
|
| Eastern & Oriental Berhad |
| Value |
: |
RM608 million |
| Role |
: |
Main Adviser |
| Deal Nature |
: |
Scheme of arrangement |
| Deal Highlights |
: |
An effective approach via a members’ scheme of arrangement to streamline Eastern & Oriental Berhad (“E&O”) and E&O Property Berhad into a single listed entity. Creative options were provided to the minority shareholders of E&O Property Berhad to serve the varied investment objectives of E&O Property Berhad shareholders i.e. full share swap, fixed combination option and maximised cash option. |
|
| Eastern & Oriental Berhad |
| Value |
: |
421 million |
| Role |
: |
Main Adviser |
| Deal Nature |
: |
Voluntary take-over offer |
| Deal Highlights |
: |
The voluntary take-over offer of E&O Property Development Berhad highlights the successful management of a package of complex transactions that covers the entire spectrum of investment banking, involving M&A, fund raising, restructuring and chain listing. |
|
| IOI Corporation Berhad/ IOI Oleochemical Industries Berhad |
| Value |
: |
RM873 million |
| Role |
: |
Main Adviser |
| Deal Nature |
: |
Privatisation |
| Deal Highlights |
: |
One of the fastest privatisations to be completed via a scheme of arrangement. Shareholders of IOI Oleochemical Industries Berhad who opted for IOI Corporation Berhad (“IOI Corp”) shares would have benefited tremendously from the appreciation in IOI Corp shares which are trading today at a premium to issue price. |
|
| IOI Corporation Berhad/IOI Properties Berhad |
| Value |
: |
RM534 million |
| Role |
: |
Adviser |
| Deal Nature |
: |
Voluntary take-over offer |
| Deal Highlights |
: |
The offer was intended to provide IOI Corporation Berhad (“IOI”) with greater liberty in planning the future direction of IOI Properties Berhad (“IOIP”) and enable IOIP to leverage on the much stronger financial resources of IOI to satisfy its substantial funding requirements. IOI was able to acquire IOIP at a discount to net assets, while IOIP shareholders were able to swap into IOI shares which are more liquid and have better medium term prospects. |
|
| Kulim Malaysia Berhad |
| Value |
: |
RM786.6 million |
| Role |
: |
Main Adviser |
| Deal Nature |
: |
Acquisition and mandatory take-over offer |
| Deal Highlights |
: |
The successful take-over of QSR Brands Bhd was completed in less than 6 months from the date of the sale and purchase agreement despite the legal hurdles encountered during the take-over exercise. |
|
| Lion Corporation Berhad and Amsteel Corporation Berhad |
| Value |
: |
RM5.7 billion (Debt Value), RM1.5 billion(M&A Value) |
| Role |
: |
Main Adviser |
| Deal Nature |
: |
Corporate and debt restructuring |
| Deal Highlights |
: |
The deal was successfully undertaken to address the debt position of two companies within the Lion Group (i.e. Lion Corporation Berhad (“LCB”) and Amsteel Corporation Berhad (“ACB”). The principal concept of the debt restructuring was to match the projected available cash flows of ACB/LCB to a redemption/repayment obligation which were acceptable to the lenders of ACB/LCB. In conjunction with the above, an asset divestment programme was instituted to monetise assets of ACB. |
|
| Permodalan Nasional Berhad |
| Value |
: |
RM1.48 billion |
| Role |
: |
Main Adviser |
| Deal Nature |
: |
Privatisation |
| Deal Highlights |
: |
The deal was successfully undertaken to privatise Malaysian Industrial Development Finance Berhad, a financial institution, via a voluntary take-over offer. It formed part of the rationalisation exercise undertaken by Permodalan Nasional Berhad (“PNB”) in re-engineering listed entities under its stable. |
|
| Road Builder (M) Holdings Bhd |
| Value |
: |
RM1.565 billion |
| Role |
: |
Main Adviser |
| Deal Nature |
: |
Disposal of the entire business and undertaking of RBH to IJM |
| Deal Highlights |
: |
The disposal will facilitate consolidation in the Malaysian construction industry and result in IJM Corporation Berhad (“IJM”) being one of the largest construction players in Malaysia. The voluntary offer by IJM for Road Builder (M) Holdings Berhad (“RBH”) shares concurrent with the disposal will enable RBH shareholders to migrate over to IJM and participate in the prospects of an even larger and internationally-competitive entity. |
|
| Sarawak Enterprise Corporation Berhad |
| Value |
: |
RM1.587 billion |
| Role |
: |
Main Adviser |
| Deal Nature |
: |
Privatisation |
| Deal Highlights |
: |
Unlocked the value of a state-owned asset by way of a privatisation exercise. Paved the way for greater efficiency and competitiveness of a state-owned asset as well as facilitated performance benchmarking against other listed utility players and key performance indicators. Managed impact of the transaction on the balance sheet by setting off losses and goodwill arising from the transaction to preserve the enhancement in future earnings as well as shareholder value. |
|
| Sime Darby Berhad (“Sime Darby”)/Tractors Malaysia Holdings Berhad (“Tractors”) |
| Value |
: |
RM316.8 million |
| Role |
: |
Main Adviser |
| Deal Nature |
: |
Privatisation |
| Deal Highlights |
: |
Facilitates rationalisation of the heavy equipment and automotive businesses of the Sime Darby group. Unlocked shareholders’ value for both Sime Darby Berhad (“Sime Darby”) and Tractors Malaysia Holdings Berhad (“Tractors”), through the consolidation of 100% of Tractors’ earnings at Sime Darby’s higher market price-earnings ratio, and the opportunity for the minority stockholders of Tractors to participate in the future growth of Sime Darby through share options. A win-win situation for the shareholders of Sime Darby and Tractors with shareholders of Tractors getting their share of the substantial cash balance in Tractors via the high premium offered. |
|
| SimeDarby-Synergy Drive |
| Value |
: |
RM18.7 billion |
| Role |
: |
Adviser to Kumpulan Sime Darby Bhd, Sime UEP Properties Bhd and Sime Engineering Services Bhdr |
| Deal Nature |
: |
Disposal of entire business to Synergy Drive |
| Deal Highlights |
: |
The largest corporate merger exercise in Malaysia as well as South East Asia which created the largest listed oil palm plantation group in the world, with significant presence in both the upstream and downstream sectors. |
|
| SPV of Abu Dhabi-Kuwait-Malaysia Investment Corporation (“ADKM”) and UBG Bhd (“UBG”) |
| Value |
: |
RM1.57 billion |
| Role |
: |
Adviser |
| Deal Nature |
: |
Strategic entry of ADKM into the Malaysian construction sector and the restructuring of UBG |
| Deal Highlights |
: |
The completion of the scheme transformed UBG from a cash rich shell to a construction group with two listed units – Putrajaya Perdana Berhad and Loh & Loh Corporation Berhad under its wing and the benefit of two strong shareholders namely Cahya Mata Sarawak Bhd and Majestic Masterpiece Sdn Bhd (an SPV of ADKM) coming together. The deal reflects the growing interest of West Asian investors in Malaysia and also vote of confidence in the Malaysian Government’s management of the economy and Malaysia’s economic potential. |
|
| TIME dotCom Berhad |
| Value |
: |
RM654.5 million |
| Role |
: |
Main Adviser |
| Deal Nature |
: |
Alliance between TdC and DiGi.Com Bhd |
| Deal Highlights |
: |
The strategic alliance between DiGi.Com Bhd (“DiGi”) and TIME dotCom Berhad (“TdC”) is a win-win deal that enables DiGi to acquire TdC’s 3G spectrum whilst allowing TdC to hold a strategic stake in DiGi and to capitalise on DiGi’s strength and experience in the telecommunications industry through the joint business planning exercise. This deal was named the most innovative deal under the Malaysian Mergers & Acquisitions Association 2008 awards. |
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