25 Jan 2019
Asset acquisition of Guava Holdings Pte. Ltd. and its subsidiaries
Member firms of Rajah & Tann Asia (Singapore, China, Indonesia, Thailand, Malaysia and the Philippines) acted for ClassPass Inc. in its asset acquisition of Guava Holdings Pte. Ltd., GuavaPass DMCC LLC, Guava Pass Limited, GuavaPass Co., Ltd., GuavaPass Enterprise Management Consulting (Shanghai) Co., Ltd., RedBadger Inc. and GuavaPass Sdn. Bhd., for an aggregate consideration of US$4.2 million with a loan of US$1 million granted by ClassPass Inc. to Guava Holdings Pte. Ltd. in connection therewith. Upon completion of the asset acquisition, ClassPass will acquire GuavaPass operations in Abu Dhabi, Bangkok, Beijing, Dubai, Hong Kong, Jakarta, Kuala Lumpur, Manila, Mumbai, Shanghai and Singapore. A positive confidential advice from the Competition and Consumer Commission of Singapore was obtained prior to completion of the transaction.