Global law firm Norton Rose Fulbright (Asia) LLP has advised Carlsberg Breweries A/S on the acquisition of all of the remaining shares in Carlsberg South Asia Pte Ltd (CSAPL) from its former joint venture partner CSAPL (Singapore) Holdings Pte Ltd.
As part of this transaction, CSAPL has also entered into an agreement to acquire a further 9.94 percent of the shares in Gorkha Brewery Private Limited (GBPL), which operates Carlsberg’s businesses in Nepal.
CSAPL is the holding company for Carlsberg’s business in India and Nepal, and this acquisition will grant Carlsberg control of 100 percent of the existing business in India and 99.94 percent of the existing business in Nepal.
The total value of the transactions was US$744 million.
This deal will allow Carlsberg to assert full control over the Nepalese business, as well as allow full consolidation of the GBPL business in Carlsberg’s accounts. Having obtained full control over two important Asian businesses (India and Nepal), Carlsberg will be allowed to further implement its global strategy, and accelerate investments to capture the long-term growth opportunities in the relevant markets.
This landmark deal is one of the largest corporate share deals in Nepal’s history, marking a significant milestone in the country’s corporate landscape.
The transaction was led by Singapore-based partner Craig Loveless, with support from senior associate Dexter Tan. Other members of the deal advisory team include partners Dominic Stuttaford and Katie Chung, and Singapore Ascendant Legal managing director Chew Kei-Jin; senior associates Ang Kai Ye and Chris Bell; associates Wong Yan Yee and Elisabeth Trotter; legal executive Nina Stammbach; and trainee solicitor Rebecca Bell.
