DFDL acted as sole buy-side counsel to Roojai, a leading player in non-life insurance brokerage and insurance services in Thailand, in its full acquisition of (i) Direct Asia (Thailand) Co., Ltd., a non-life insurance brokerage company and (ii) Direct Asia Services (Thailand), a non-life insurance service company.
DFDL assisted in conducting the legal due diligence on the target companies, as well as reviewed and negotiated the Share Purchase Agreement and other relevant transactional documents and closing assistance. The deal, executed under tight time constraints, required demanding attention to specific representations, warranties, and disclosures. It displayed both the M&A process expertise and the knowledge of the insurance sector by DFDL Thailand team, led by Partners David Doran, Walanchathas Sanguanwong and Nipaporn Supha-utchaichan, and legal advisers Rohan Bishayee, Benjawan Butkrut, Thanatorn Anekvittayakij, Nitipat Uthairat, Chanapha Chamnanlertkit and Onnicha Yommana.
DFDL has been fortunate to support Roojai since 2023 in their external growth strategy, with the 100% acquisition of FWD General Insurance Public Company Limited, a Thai non-life insurance company. Now with the acquisition of Direct Asia’s Thailand operations in 2024, Roojai further strengthens its strategic position on the Thai insurance market.
“𝘞𝘦 𝘢𝘵 𝘙𝘰𝘰𝘫𝘢𝘪 𝘵𝘩𝘢𝘯𝘬 𝘺𝘰𝘶 𝘢𝘭𝘭 𝘧𝘰𝘳 𝘵𝘩𝘦 𝘥𝘦𝘥𝘪𝘤𝘢𝘵𝘪𝘰𝘯. 𝘈𝘴 𝘱𝘦𝘳 𝘶𝘴𝘶𝘢𝘭 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦𝘴𝘦 𝘥𝘦𝘢𝘭𝘴, 𝘵𝘩𝘪𝘯𝘨𝘴 𝘨𝘰𝘵 𝘪𝘯𝘵𝘦𝘯𝘴𝘦 𝘢𝘵 𝘵𝘪𝘮𝘦𝘴 𝘣𝘶𝘵 𝘺𝘰𝘶 𝘯𝘦𝘷𝘦𝘳 𝘸𝘢𝘷𝘦𝘳𝘦𝘥. 𝘞𝘦 𝘭𝘰𝘰𝘬 𝘧𝘰𝘳𝘸𝘢𝘳𝘥 𝘵𝘰 𝘸𝘰𝘳𝘬𝘪𝘯𝘨 𝘸𝘪𝘵𝘩 𝘺𝘰𝘶 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘵𝘩𝘦 𝘱𝘰𝘴𝘵-𝘤𝘭𝘰𝘴𝘪𝘯𝘨 𝘴𝘵𝘦𝘱𝘴.”
