Bayfront Law LLC advised DMW Investments Pte. Ltd. (“Offeror”) in the privatisation and delisting of United Global Limited (“Company”) from the Catalist board of the Singapore Exchange Securities Trading Limited (“SGX-ST”) by way of a voluntary unconditional cash offer (“Offer”) for all the issued and paid-up ordinary shares (“Shares”) in the capital of the Company. The cash offer price of S$0.45 per Share presented shareholders the opportunity to realise their investment in the shares at a premium to historical market prices and valued the Company at approximately S$142.3 million.
The Company’s main business is in lubricant manufacturing and distribution and also engages in the trading of petrol and related products, base oils and additives as well as other business segments including logistics and manufacturing of nano-fibre materials. The Offeror sought to privatise the Company as it believed that doing so would allow the Company to better respond to the changing market conditions and optimise the use of the Company’s management and resources.
The Bayfront Law team that advised the Offeror was led by Ryan Lin (Director) and assisted by Jayden Chew, Andrea Wang and Matthew Yong.