Allen & Gledhill advised the vendors.
Ngoc Nghia Industry – Service – Trading Joint Stock Company and its founding shareholders, as well as Tempel Four Limited, a subsidiary of VinaCapital Vietnam Opportunity Fund sold their entire shares to Indorama Netherlands B.V., an affiliate of Indorama Ventures Public Company Limited.
The total acquisition consideration amounted to about US$92 million.
IVL, a reputable and leading petrochemicals producer, registered to acquire up to 100% of the shares in the Company through a public tender offer. The shares acquired by IVL from the Vendors through the PTO constitutes 91.6% of the total shares in the Company.
Ngoc Nghia Industry manufactures polyethylene terephthalate.
Indorama Ventures Public Company Limited (SET: IVL) is a producer of intermediate petrochemicals industry, the world’s largest producer of PET resins, and a manufacturer of wool yarns established by Aloke Lohia in Bangkok in 1994.
The Allen & Gledhill (Vietnam) consisted of Partners Oh Hsiu-Hau (Picture) and Tran Thi Phuong Thao.
Law Firms: Allen & Gledhill LLP;