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Wong & Partners Advises Malakoff On Acquisition Of Sime Darby’s Malay Power Business.

11 April, 2014

 

Wong & Partners, a member firm of Baker & McKenzie International in Malaysia, advised Malakoff Corporation Berhad (Malakoff), a Malaysian independent Water and Power Producer (IWPP), on two agreements with Sime Darby Energy Sdn. Bhd. (Sime Darby Energy), for the acquisition of Sime Darby Berhad’s Malaysian power business.

 

Malakoff, through its wholly-owned subsidiary, Hypergantic Sdn. Bhd., will purchase 75 percent equity interest in Port Dickson Power Berhad (PDP) which it does not already own, from Sime Darby Energy. Another wholly owned subsidiary of Malakoff, Malakoff Power Berhad, will also acquire the operations and maintenance business relating to PDP’s power plant by purchasing the entire issued and paid up share capital of Sime Darby Biofuels Sdn. Bhd.

 

Firm partner Munir Abdul Aziz led the team on the deal. He was assisted by associates Cindy Sek and Caryna Koh.


“We are very pleased to have acted again for Malakoff Corporation Berhad in connection with a major acquisition. This deal involved two very significant companies, which are part of listed public company groups, each of which placed a great deal of emphasis on negotiating terms in their respective best interests. It has been fascinating to be intrinsically involved in a deal between such evenly matched parties, and assisting in the negotiation and conclusion of its terms,” said Munir.

 

The opposing party’s law firm was Christopher & Lee Ong.

 

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