DEALS

US$5.4 billion for Lotus Technology. Upon completion of business combination, the combined company is expected to retain its name as “Lotus Technology”, and its ordinary shares are expected to be listed in the Nasdaq. Proceeds from the business combination are expected to be used for further product innovation, next-generation automobility technology development, global distribution network expansion and general corporate purposes. Partners Peter Huang (Beijing) and Shu Du (Hong Kong), supported by partners Steve Kwok (Hong Kong), Bruce Goldner (New York), Victor Hollender and Brian Egan (Washington DC), are leading the firm’s team in the transaction.

Trilegal has advised Carlyle Group on the acquisition of a majority stake in VLCC Health Care, a leading Wellness & Beauty services and products organisation founded by Mrs Vandana Luthra in 1989. VLCC serves customers across 310 locations in 143 cities spanning 12 countries in South Asia, South East Asia, the GCC Region and East Africa. Corporate partners Nishant Parikh, Harsh Maggon, Sneha Vardhan and Pranav Atit, supported by partners Atul Gupta (labour and employment), Rahul Arora (real estate), Tine Abraham (dispute resolution) and Jyotsana Jayaram (TMT), led the firm’s team in the transaction.

TT&A has also advised Asian Development Bank Ventures, an existing shareholder in Euler Motors, on the GIC-led Series C funding raised by Euler Motors. The deal involved raising by Euler Motors of Series C funding of approximately US$60 million. Euler Motors aims to utilise the funds to scale up its manufacturing and supply chain infrastructure, accelerate product development and augment talent across key functions in the organisation. Established in 2018, Euler Motors plans to expand its retail presence in 12 new markets. Partner Dushyant Bagga led the firm’s team in the transaction.

WongPartnership is acting for the manager of Frasers Centrepoint Trust (FCT) and Frasers Property on the joint acquisition of a 50 percent stake in suburban mall Nex from a subsidiary of Mercatus Co-operative, a unit of NTUC, for S$652.5 million (US$492m). The acquisition is in line with FCT’s investment strategy, allowing for diversification and enhancing its market position in the suburban retail sector. Partners Andrew Ang and Soong Wen E are leading the firm’s team in the transaction, together with partners Monica Yip, Chan Jia Hui and Jerry Tan