US$92 million shares acquisition through a public tender offer by Indorama Netherlands B.V.

A&G News 2 May 2022

Allen & Gledhill, as transaction counsel, advised Ngoc Nghia Industry – Service – Trading Joint Stock Company ( “Company”) and its founding shareholders, as well as Tempel Four Limited, a subsidiary of VinaCapital Vietnam Opportunity Fund (collectively referred to as the “Vendors”), in the sale of their entire shares to Indorama Netherlands B.V., an affiliate of Indorama Ventures Public Company Limited (“IVL”).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 (“PTO”). The shares acquired by IVL from the Vendors through the PTO constitutes 91.6% of the total shares in the Company.

Advising the Vendors and the Company were Allen & Gledhill (Vietnam) Partners Oh Hsiu-Hau and Tran Thi Phuong Thao.