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In
this connection we have significant experience in
representing different parties in such transactions such as,
the acquiring party, the party going to be acquired, the
corporate guarantors, the financiers, the merging parties
etc. Also nowadays corporates are going to restructure
themselves faster due to emerging scopes of asset finance,
bankruptcy etc.
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MERGER / ACQUISITION / AMALGAMATION PROCEDURE IN BANGLADESH
Shareholder approval:
The shareholders of the amalgamating and the amalgamated
companies are directed to hold meetings by the respective
Courts to consider the scheme of amalgamation. The scheme is
required to be approved by 75% of the shareholders, present
and voting, and in terms of the voting power of the shares
held (in value terms).
Creditors/Financial Institutions/Banks approval
Approvals from these are required for the scheme of
amalgamation in terms of the agreement signed with them.
Court approvals
Approvals of the regional Courts in which registered offices
of the amalgamating and the amalgamated companies are
situated are required.
Bangladesh Bank & BOI (Board of Investment) approval
Bangladesh Bank and BOI permission is required when the
amalgamated company issues shares to the nonresident
shareholders of the amalgamating company or any cash option
is exercised.
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Our
Banking and Finance Practice represents clients in many
aspects of financing transactions, from origination and
negotiation, to documentation and closing, and when
necessary, to enforcement of remedies or procedures and
agreements for workout and reorganization. Commercial and
investment banks, insurance companies and other financial
institutions appoint us to represent them in their various
capacities in financing transactions
SOME OF OUR RECENT TRANSACTIONS:
Restructured Khulna Power Company Limited (KPCL)
We are representing and working for El Paso CGP Company in
the acquisition of
Khulna Power Company Ltd by Globleq
We are representing and working for Picnic Corporation
Public Company Limited in
its merger with Summit Surma Petroleum Co., Ltd.
We are representing and working for Coastal Petroleum N.V.,
in the acquisition of
United Summit Coastal Oil Ltd. by Globleq
We are co-ordinating and advising ABX Logistics (Singapore)
Ltd. In its acquisition
of ABX Bangladesh Ltd. ABX is world’s largest Logistics
Service provider operating
in more than 32 countries
We are representing and working for EPED Holding Company in
the acquisition of
NEPC Consortium Power Ltd. by Globleq
We are representing El Paso in the sale of its 50%
subsidiary Coastal Fuji Oil Ltd.
We advised Commercial Bank in its worldwide acquisition of
Credit Agricole
Indosuez
We are working for El Paso in acquisition of El Paso Khulna
Power ApS by Summit
We are working for El Paso in acquisition of Coastal
Petroleum N.V by Summit
We are working for El Paso in acquisition of El Paso Power
Khulna Holding Ltd. by
Summit |
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