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Fangda represented Avary Holding (Shenzhen) Co., Ltd. in its investment in a new manufacturing base in Thailand with the total investment amount of approx. US$250 mln
Fangda Partners represented Avary Holding (Shenzhen) Co., Ltd. (“Avary Holding”) in its investment in a new manufacturing base in Thailand. The total investment amount is approximately US$ 250 million (approximately RMB 1.794 billion), with an initial investment amount of approximately US$ 31.5 million (approximately RMB 224 million). In September 2023, Avary Holding formed a Thai joint venture named Peng Shen Technology (Thailand) Co., Ltd. (“Thail JV“) with Saha Pathana Inter-Holding Public Company Limited (“SPI“). On December 7, 2023, Thai JV signed an agreement to sell and purchase land with SPI, pursuant to which, Thai JV purchased from SPI 409,784.8 square meters of industrial land, situated within the Saha Group Industrial Park – Kabinburi, Thailand, for an aggregate purchase consideration of THB 896,404,250 (approximately RMB 185 million).
Fangda, as the lead counsel, provided legal services on joint venture establishment, industrial land acquisition, manufacturing facilities construction and ongoing business operations in Thailand, and participated in the legal due diligence and drafting and negotiation of the transaction documents. Fangda team on this deal was led by partners Peng Tan, Xueyan Jiang and of-counsel Suyin Tan, and supported by associates Stacy Shi and Ellison Ma. Anti-trust team, led by partner Caroline Huang and supported by associate Harris Zhang, provided legal advice on the anti-trust clearance. Counsel Eunice Dai provided legal advice on the information disclosure requirements of listed companies.
Avary Holding was formed from the corporate restructuring of Fukui Precision Components (Shenzhen) Co., Ltd. on April 29th, 1999. Avary was listed on the Shenzhen Stock Exchange on September 18th, 2018, with the stock name being “Avary Holding” and stock code being “002938”. Avary Holding is primarily engaged in the design, development, manufacture and sales of all types of PCB. Avary Holding has first-class quality and services, which provides a full range of circuit board products to meet the needs of “one-stop shopping” from customers. According to Prismark’s 2018-2023 global PCB company ranking based on revenue, the company has been ranked as the world’s largest PCB manufacturer for six consecutive years from 2017 to 2022.
SPI, founded in 1972, is the holding company of Saha Group, Thailand’s largest consumer product conglomerate with wide range of over 1,000 products & services. Saha Group plays an important role in the daily life of every Thai and being an important driver of economic growth of the country with over 200 companies and 100,000 employees.
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