S$434 million voluntary conditional cash offer for BreadTalk Group Limited by BTG Holding Company Pte. Ltd. and related S$255 million loan facilities

A&G News 30 March 2020

Allen & Gledhill advised BTG Holding Company Pte. Ltd. (“BTG Holding Company”), as transaction counsel, on its S$434 million voluntary conditional cash offer to acquire all the shares in BreadTalk Group Limited (“BreadTalk”), made on behalf of BTG Holding Company by United Overseas Bank Limited.

BTG Holding Company is formed by a consortium comprising Dr George Quek, Ms Katherine Lee and Minor International, a Thai-listed hospitality and leisure company. 

Allen & Gledhill also advised United Overseas Bank Limited (“UOB”), as transaction counsel, on the S$200 million term and revolving loan facilities to Piece Investment Pte. Ltd. and S$55 million term loan facility (collectively, the “Facilities”) to Minor BT Holding (Singapore) Pte. Ltd..

The proceeds of the Facilities were, inter alia, to be used to fund BTG Holding Company to finance the costs of acquiring the shares of BreadTalk.

Advising BTG Holding Company were Allen & Gledhill Partners Christopher Koh and Mark Quek.

Advising UOB was Allen & Gledhill Partner Lim Wei Ting.