Kudun is the founding partner of Kudun and Partners. He is active in capital markets and securities including IPOs, debt securities offerings and stock exchange listings. He has a wealth of experience advising both Thai and international clients on a wide range of matters on mergers & acquisitions (including the acquisition and disposal of equity interest in publically-listed companies), banking & finance, infrastructure funds and real estate law / REITs transactions. His depth of expertise extends across a variety of sectors in all stages of both domestic and cross-border cases.
He regularly assists international clients, seeking to invest in Thailand, on a broad spectrum of industry sectors on choosing the right investment structure, as well as on licenses and other regulatory matters required to do business in Thailand.
Languages
Publications and Presentations
- COVID-19: Compensation Benefits Schemes for Employers and Employees, April 2020
- Lecturer on partnership and company law, bankruptcy and insolvency law, and investment law at several Thai universities.
- IFLR1000’s M&A Thailand Activity Report 2018 / 2019
Awards and Rankings
- Thailand’s Top 100 lawyers by Asia Business Law Journal, Vantage Group, 2020 -2021
- Notable Practitioner in Corporate and M&A by Asialaw 2020 – 2021
- Recommended Lawyer in Corporate and M&A (including Capital Markets) by Legal 500, 2020
- Recommended Lawyer in Projects and Energy by Legal 500, 2020
- Highly Regarded Lawyer for Capital Markets – Debt/Equity and M&A by IFRL 1000, 2020
- Capital Markets and Securities Lawyer of the Year in Thailand by Leaders in Law, 2020
- Commended External Counsel of the Year 2020 by In-house Community
- Recognized as one of Thailand’s Top 100 lawyers 2020 by Asian Business Law Journal
- Leading Lawyer in Capital Markets and Corporate/Mergers & Acquisitions by IFLR1000, 2020
Education and Admission
- LL.M., Columbia University School of Law, U.S.A
- LL.B., Chulalongkorn University, Thailand
A selection of matters in which Kudun has been involved include:
MERGERS & ACQUISITIONS
Renewable Energy
- Representing B.Grimm Power-Energy China Consortium in their successful bidding to build the world’s largest hydro floating solar hybrid power project at Sirindhorn dam in Ubon Ratchathani, a pilot project by the Electricity Authority of Thailand (EGAT), combining hydropower and solar power project which is the largest hybrid power generation in the world with the output of 45 MW worth over THB 842 million (approximately USD 27 million).
- Representing BG Container Glass [BKK:BGC] in the acquisition of a 100% stake in Solar Power Management (Thailand) from Eastern Printing [BKK:EPCO] with solar power projects in Thailand and Vietnam from Eastern Printing Public Company Limited with a cumulative transaction value of THB 1.07 billion (USD 35.5 million).
- Representing as lead counsel to B. Grimm Power Public Company Limited for its cross-border investment of approximately 100MW (AC) offshore wind power project located in Saemanguem Seawall, Gunsan District, Jeollabuk Province, South Korea, the world’s longest man-made syke with a leading Korean offshore wind power producer worth billions of THB.
Consumer Goods and Retail
- Representing NPPG Public Company Limited in the acquisition of several restaurant chains in Thailand and joint investment with its business partners to expand its restaurant business abroad.
- Representing Big Camera Corporation Public Company Limited on a joint venture and expansion of its business in Vietnam to operate retail shops.
- Representing Team A Holding 3 Company Limited on the acquisition of the food and beverage packaging business from TCK Group which included appropriate tax planning, due diligence, and negotiations which led to winning the purchase bid while offering a much lower price yet still resulting in additional funds to the seller. Total value of the deal was THB 1.08 billion (USD 34.9 million).
Oil and Gas
- Representing Prima Marine Public Company Limited in the acquisition of up to 100% shares in Big Sea Company Limited which operates an oil shipping and maritime business in Thailand. This complex acquisition was divided into 2 phases involving an earn-out provision for the payment of the second phase acquisition with a value of approximately THB 2.9 billion (USD 93.7 million).
- Representing Ferrum Public Company Limited with the acquisition of 100% shares in Star Gas Company Limited from the existing shareholder of Star Gas Company Limited with an approximate value of THB 550 million (USD 17.8 million).
- Representing Sea Oil Public Company Limited in the acquisition of 50% of participating interest in the oil concession through the purchase of 50% of shares capital in Pan in Orient Energy (Siam) Ltd., a subsidiary of Pan Orient Energy Corp., a Canadian publicly listed company, with a value of THB 1.3 billion (USD 42.5 million).
Real Estate
- Representing Chartchewa Company Limited on the acquisition of 31.88% shares of one of the leading property developers in Thailand, Chewathai Public Company Limited, from TEE Development Pte Ltd (a wholly-owned subsidiary of TEE Land Limited, listed on the Singapore Stock Exchange). This transaction was a complex international cross border deal structured to comply with the tender offer regulations with a cumulative value of THB 318 million (USD 10.3 million).
- Representing Chewathai Public Company Limited in the acquisition of Aria Asoke, a condominium project located in a prime location in Bangkok from AQ Estate Public Company Limited, with a value of THB 584 million (USD 18.9 million).
Technology, Media and Telecoms
- Representing TIME dotCom International Sdn Bhd, a subsidiary of a Malaysian listed company, on an acquisition through a partial voluntary tender offer of 38.75% of the issued share capital of Symphony Communication Public Company Limited, with an approximate value of THB 1.54 billion (USD 49.6 million).
- Representing Bliss-Tel Public Company Limited on the acquisition of 35% of the issued share capital of Information Technology Group Ltd with a deal value of THB 700 million (USD 22.6 million).
- Representing Thai investors in the acquisition through a tender offer of 50% of the issued share capital in SKY ICT Public Company Limited (formerly known as CCN-TECH Public Company Limited) with a deal value of THB 161 million (USD 5.2 million).
Industrial and Manufacturing
- Representing Jardine Cycle & Carriage Limited with regards to the acquisition of 24.9% of the issued share capital of Siam City Cement Public Company Limited (SCCC) with a total value of THB 19 billion (USD 615 million).
- Representing a group of shareholders in Thai Hua Rubber Public Company Limited on the disposal and restructuring of the shareholding structure in the company and its subsidiaries with a total value of approximately THB 1.2 billion. (USD 38.8 million).
- Representing the Thai shareholders of SECO Transport Co., Ltd. in the sales of share capital to a Thai business partner with a cumulative value of THB 120 million (USD 3.9 million).
CAPITAL MARKETS
Renewable Energy
- Representing Khonburi Sugar Public Company Limited (KBS) — an integrated business of sugar manufacturing and distribution — to establish an infrastructure fund, Khonburi Sugar Power Plant Infrastructure Fund (KBSPIF), which will invest in the revenue generated from sale of electricity totaling 25.5MW under the power purchase agreement with the Electricity Authority of Thailand (EGAT) with an aggregated transaction value of THB 2.8 billion (approximately USD 93 million).
- Representing Thai Solar Energy Public Company Limited, a leading renewable energy company, in connection with the issuance of Transferrable Subscription Rights (TSR) to its existing shareholders in proportion to their shareholding.
- Representing as legal counsel and business advisor to B.Grimm Power Public Company Limited as the issuer of one of largest IPOs in Thailand in 2017 for a company with major power plants in Thailand, Vietnam and Laos with an offering value of THB 11.5 billion (USD 371.6 million).
Transportation
- Representing Mitsib Leasing Public Company in connection with its domestic initial public offering, June 2019, with a total value of THB 430 million (USD 13.8 million).
- Representing Nok Airlines Public Company Limited as legal counsel in connection with the domestic initial public offering, November 2012, with a total value of THB 4.87 billion (USD 157.5 million).
- Representing Triple i Logistics Public Company Limited as legal counsel in connection with the domestic initial public offering and company secretary, August 2017, with an approximate cumulative value of THB 789.6 million (USD 25.5 million).
Industrial and Manufacturing
- Representing SiamEast Solutions Public Company Limited with its domestic initial public offering and company secretary, February 2017, with an approximate total value of THB 147 million (USD 4.8 million).
- Representing Siamraj Public Company Limited in connection with its domestic initial public offering, November 2015, with a total value of THB 525 million (USD 17 million).
- Representing P.C.S. Machine Group Holding Public Company Limited in connection with its domestic initial public offering, March 2014, with a sum of approximately THB 3.3 billion (USD 106.7 million).
Real Estate and Construction
- Representing Chewathai Public Company Limited as legal counsel in connection with its domestic initial public offering, March 2016, with an approximate total value of THB 419.2 million (USD 13.5 million).
- Representing Team Consulting Engineering and Management Public Company Limited as legal counsel in connection with the domestic initial public offering, July 2018, with an approximate total value of THB 435.6 million (USD 14.1 million).
- Representing Thai Enger Holding Public Company Limited for its domestic initial public offering, October 2018, with an approximate value of THB 446.3 million (USD 14.4 million).
Consumer Goods and Retail
- Representing Taokaenoi Food & Marketing Public Company Limited -as legal counsel for its domestic initial public offering and company secretary, November 2015, with an approximate total value of THB 1.44 billion (USD 46.5 million).
- Representing MBK Public Company Limited as legal counsel in connection with a debt offering, June 2015, with an approximate total value of THB 1 billion (USD 32.3 million).
- Representing The Platinum Group Public Company Limited in connection with its domestic initial public offering, March 2015, with an approximate total value of THB 5.18 billion (USD 167.5 million).
Financial Services
- Representing Krung Thai Bank Public Company Limited in the role of legal counsel in connection with debt offerings, March 2015, with an estimated total value of THB 10 billion (USD 323.3 million).
- Representing Srisawad Power Public Company Limited as legal counsel in connection with the domestic initial public offering, May 2014, with a total value of THB 1.73 billion (USD 55.9 million).
- Representing Phatra House and Property PCL (“PHP”), B/E investors and Srisawad Finance PCL (Debentureholders’ representative) in connection with issuing debentures and a land mortgage registration valued at approximately THB 190 million (USD 5.9 million).
Oil & Gas
- Representing Scan Inter Public Company Limited as legal counsel in connection with its domestic initial public offering, February 2015, with a total value of THB 1.5 billion (USD 48.5 million).
- Representing PTTEP Australia International Finance Proprietary Company Limited, a subsidiary of PTT Exploration & Production Public Company Limited as legal counsel in connection with debt offerings, August 2010, with an approximate sum of THB 15.5 billion (USD 500 million).
- Representing Mermaid Maritime Public Company Limited as legal counsel in connection with the international initial public offering, November 2013, with an approximate total value of SGD 176.1 million (USD 139.5 million).
Healthcare
- Representing Bangkok Dusit Medical Services Public Company Limited as legal counsel in connection with a debt offering, September 2014, with an approximate total value of THB 10 billion (USD 323.3 million).
- Representing Mega Lifesciences Public Company Limited for the international initial public offering, November 2013, with an approximate value of THB 3.79 billion (USD 122.6 million).
Technology, Media and Telecoms
- Representing Mono Technology Public Company Limited as legal counsel in connection with the domestic initial public offering, June 2013 generating an approximate value of THB 2.8 billion (USD 90.5 million).
- Representing VGI Global Media Public Company Limited for its domestic initial public offering October 2012, with an approximate total value of THB 1.35 billion (USD 43.7 million).
Tax and Corporate Restructuring
- Representing Team A Holding 3 Co., Ltd. in the acquisition of the food and beverage packaging business from the TCK Group through appropriate tax planning, due diligence, and negotiations our client was able to win the purchase bid while offering a much lower price yet still resulting in additional funds to the seller. The total deal value is THB 1.08 billion (USD 34.9 million).
- Representing Nathalin Group Limited for investment restructuring and a share swap.
- Representing Star Gas Company Limited as a legal and tax counsel in connection with the sale and transfer of businesses of Star Gas Group to Ferrum Public Company Limited.
