Herbert Smith has advised Credit Suisse and Bualuang Securities as placing agents in connection with the sale by Bumrungrad Hospital PCL of its stake of approximately 25% in Bangkok Chain Hospital PCL, a company listed on the Stock Exchange of Thailand.
The transaction, which raised Thai Baht 4.6 billion (approximately US$145 million), marked a complete exit by Bumrungad Hospital from its investment in Bangkok Chain Hospital and benefited from heavy investor interest in Southeast Asia’s growing healthcare sector.
The Herbert Smith Singapore and Bangkok teams advised on the US federal securities and Thai law aspects of the transaction. The team included Kevin Roy, Siddhartha Sivaramakrishnan and Felipe Duqueon US law matters, Surapol Srangsomwong and Chositar Daecharux on Thai law matters and Kwok Hon Yee on Singapore law matters.
Siddhartha Sivaramakrishnan commented:
“We are delighted to have acted for the placing agents on this transaction and to continue to strengthen our relationship with Credit Suisse in Southeast Asia. We have represented Credit Suisse on a number of significant cross-border transactions in Hong Kong, Indonesia and Singapore and are very pleased to have extended our relationship to Thailand as well.”
