22 Jul 2014

Cross-border Deal: Lee Rubber Companies' Sale of Shareholding Interests to Halcyon Rubber Company Pte Ltd

Partners Goh Kian Hwee, Cynthia Goh and Cheng Yoke Ping, and associates Mariana Lesmana and Sahid Ramadian from Rajah & Tann LLP, and Partners Ahmad Fikri Assegaf, Putu Suryastuti and Wibowo Mukti and associate Intan Paramita from Assegaf Hamzah & Partners, are acting for the Lee Rubber Companies in a cross-border deal involving the sale of their entire shareholding interests (representing 100% of the issued share capital) in Anson Company (Private) Limited to Halcyon Rubber Company Pte. Ltd. for an aggregate cash consideration of S$450,000,000.

This cross-border deal involves Singapore and Indonesia. Anson Company (Private) Limited is a private limited company incorporated in Singapore. It has four subsidiaries incorporated in Indonesia, namely, PT. Hok Tong, PT. Remco, PT. Sunan and PT. Rubber Hock Lie (collectively, the “Anson Group”). The Anson Group is in the business of processing Standard Indonesian Rubber and is principally engaged in producing crumb rubber and remilled crepe. It owns and operates 9 crumb rubber factories in South Sumatra, North Sumatra, Jambi and West Kalimantan, producing Standard Indonesian Rubber for leading global tyre producers.

Halcyon Rubber Company Pte. Ltd. is a wholly-owned subsidiary of Halcyon Agri Corporation Limited, which is listed on the Catalist Board of the SGX-ST.