Linklaters has advised Charoen Pokphand Group (CP Group) on its US$10.6bn acquisition of Tesco’s businesses in Thailand and Malaysia. This is the biggest corporate acquisition in Thailand’s history and the largest in Asia to date this year.

The transaction involved a competitive bidding process, with CP Group being successful in adding Tesco’s southeast Asian operations to its existing businesses. The transaction is subject to approval by Tesco’s shareholders and regulatory clearance by the Thai authorities.

Linklaters’ involvement in the transaction consolidates the firm’s long-standing experience in complex and cross-border M&A transactions. The team was led by partners Wilailuk Okanurak and Pichitpon Eammongkolchai  and counsel Sutthipong Koohasaneh and Sonya Kalnin in Bangkok, with support from corporate partner Matthew Middleditch, banking partner Nathalie Hobbs and competition counsel Marcus Pollard in Hong Kong.

Partner Wilailuk Okanurak commented: “Linklaters has worked on the development of some of the most complex and important transactions in the corporate/M&A space in the region. We are honoured to have the opportunity to support CP Group in winning this significant transaction, setting a milestone in the history of corporate acquisitions in Thailand.”