Firm Profile
Drew & Napier LLC has wide experience in acquisitions and disposals in Singapore and the region both private and public, and in the financing of acquisitions. The M&A Practice Group is co-headed by Gary Pryke, Head of the Corporate and Finance Department and Ralph Lim, Director. The group has a large number of M&A specialists with a significant track record. Depth of experience in public M&A is one of the key strengths that set us apart. Our team is also experienced in all aspects of acquisition transactions, from planning and structuring to negotiating, documenting and implementing. Increasing globalisation means that a large number of our clients have global business interests. With its extensive cross-border experience our team is well-equipped to handle multi-jurisdictional mergers and acquisitions.
The M&A Practice Group is supported seamlessly by the expertise of our Corporate & Finance Department’s other practice groups, including specialist Tax and Competition practice groups, both leading practices in their own right.
WHAT WE HAVE ACHIEVED
The M&A Practice Group is recognised as one of the most well established in Singapore. Its expertise is recognised in many leading international legal directories. The following are what some of them have to say about the group:
- In the IFLR 1000: The Guide to the World’s Leading Financial Law Firms 2011, a client is quoted saying, "The team is highly competent and professional. They truly act with the client's benefit at heart," and adding, "Even though they have a lot of work from many other clients, they do not hesitate to respond to our queries and sometimes 'time-wasting questions‘…. It is with the M&A team at Drew and Napier that my company has the confidence in moving forward to make deals or form ventures and undertake M&A activities knowing full well that we have the most competent and able lawyers behind us all the way." Sandy Foo is also praised for her expertise in Mergers & Acquisitions, she “‘shows remarkable expertise in the fields of corporate commercial work as well as projects,’ notes one banking client. ‘Sandy has an incredible stamina for negotiations and pays close attention to details for her clients.’”
- For the seventh year running, Gary Pryke has been recommended as a leading lawyer in the area of Corporate/M&A by Chambers Asia. According to the 2011 edition, Gary is “pivotal to the firm's success and lauded by many clients for his ‘quick thinking and direct approach.’ Sources say: ‘This firm provides sound advice on a broad range of legal matters, and we are always very satisfied with their responsiveness and with the quality of their work.’”
- The Practical Law Company Which Lawyer Yearbook 2010 names the M&A Practice Group as a Highly Recommended practice in Corporate/M&A.
- The Asia Pacific Legal 500 2008/2009 said, “Drew & Napier LLC’s diverse practice includes private equity experience. Ralph Lim, Benedict Teo Lip Hua and Yeo Wee Kiong (who rejoined the firm) provide ‘prompt responses’, while Gary Pryke ‘consistently delivers’ and clients have a ‘high level of confidence in the team’ as a whole….”
Our Capabilities
The M&A Practice Group handles a full range of work and is able to advise clients on
- Public and private mergers and acquisitions
- Takeovers
- Privatisation
- Corporate restructuring
- Schemes of arrangement and reconstruction
Our clients include private and public companies, multinationals, financial institutions and government-linked groups.
The M&A Practice Group is involved in many complex, cutting-edge and award winning deals, some of which are listed below:
- Khazanah/Fortis competing Takeover Offer for Parkway (US$2.33 billion) Asian Legal Business: SE Asia Legal Awards Singapore M&A Deal of the Year 2011 and Singapore Deal of the Year 2011:
- PetroChina acquisition of Singapore Petroleum Company (US$2.2 billion): Asian Legal Business: SE Asia Legal Awards Singapore M&A Deal Of The Year 2010/
- Asian-Counsel: Deal Of The Year 2009
- Acquisition of ING Groep NV's Asian private banking business by Oversea-Chinese Banking Group (US$1.463 billion):Asian-Counsel 2009: Deal of the Year 2009
- ANZ partial acquisition of RBS’ Asian assets (US$550 million): Asian-Counsel 2009: Deal of the Year 2009
- Financing of acquisition of Tuas Power by China Huaneng Group (US$3.12 billion): Asian-Counsel: Deal of the Year 2008 "Honourable Mention"
Other recent significant transactions include
- advising the Sawit Mas Group on the sale of its oleochemical plants to Bakrie Sumatera Plantations, and the sale of its palm oil plantations to a consortium of investors. The sale required the restructuring of debt inexcess of US$600 million held by various on-shore and off-shore financial institutions, and a US$2 billion off-take agreement with Proctor & Gamble;
- acting for a fund constituted in Singapore in its acquisition of the Cross Tower property situated in downtown Shanghai, from SEB Asian Property Fund SICAV-FIS (SEB) and AREIF Investment Holdings Pte Ltd (AREIF). Jurisdictions involved spanned Singapore, Shanghai, and Barbados. Drew & Napier acted as lead counsel for the acquisition.
- acting for Mitsui & Co. Ltd. in relation to its $221 million voluntary conditional cash offer to acquire all of the issued and paid-up ordinary shares in Portek International Limited. This was one of the relatively few competitive takeovers in Singapore
Notable Practioners
