TTT+Partners

TTT+Partners advised Glow IPP 3 Co., Ltd., a subsidiary of Global Power Synergy Public Company Limited (GPSC), on the divestment of its 33.33% equity stake in Eastern Seaboard Clean Energy Co., Ltd.(“ESCE”) to Veolia Environmental Services (Thailand) Co., Ltd., a leading provider of sustainable environmental solutions. ESCE holds a 100% equity stake in Chonburi Clean Energy Co., Ltd. (CCE), a company engaged in industrial waste-to-energy projects. This strategic transaction forms part of GPSC’s broader portfolio optimization and long-term investment strategy in the energy and utilities sector, reflecting its ongoing focus on enhancing operational efficiency and sustainable growth. Our team provided comprehensive legal support throughout the transaction, including legal due diligence, transaction structuring, drafting and negotiating key transaction documents, and ensuring regulatory compliance under Thai law. TTT+Partners team was led by Veeranuch Thammavaranucupt and Parithat Chamnongsilp, with key support from Kanatat Damrongchaitham and Veerapattra Mangmee. This transaction underscores TTT+Partners’ deep expertise in complex M&A transactions and the energy sector, supporting clients in high-impact, strategic transactions across Thailand and the region.

Effective from 1 July 2026, Thailand's revised RPT and MT framework introduces a new chapter in the regulation of listed company transactions. While the market has understandably focused on individual rule changes, the reforms are best viewed through the lens of broader policy objectives and evolving governance expectations. Our latest Insight explores these developments and their practical significance for listed companies and their stakeholders.

TTT+Partners advised Plan B Media Public Company Limited (“PLANB”) on its acquisition of an 11.01% equity interest in COM7 PCL (“COM7”), with a total transaction value of ~THB 7.2 billion (USD 206 million). The transaction resulted in PLANB becoming a major strategic shareholder in COM7, one of Thailand’s leading information technology and digital lifestyle product retailers. The investment supports PLANB’s strategy to expand its out-of-home media platform into a broader digital ecosystem encompassing retail technology, consumer financing, and electric vehicle (EV) platforms, while diversifying its revenue streams, generating stable long-term dividend returns, and creating significant commercial synergies across the two companies’ nationwide platforms. Our scope of work included conducting legal due diligence, advising on the transaction structure, preparing and reviewing the required disclosures in compliance with the regulations of the Securities and Exchange Commission of Thailand (SEC) and the Stock Exchange of Thailand (SET), and advising the client throughout the execution and successful completion of the transaction. The team was led by Veeranuch Thammavaranucupt and Parithat Chamnongsilp, with support from Arnut Pongprueksa, Kanatat Damrongchaitham, Sahatsawat Satpretpry, Arch Suntharasantic, and Veerapattra Mangmee.

TTT+Partners acted as Thai legal counsel to AGPH (Thailand) Co., Ltd. in connection with its voluntary tender offer for all securities of Polyplex (Thailand) PCL (PTL), with an aggregate transaction value ~THB 13.5 billion (USD 405.6 million). The tender offer covers up to 900,000,000 ordinary shares, representing 100% of PTL’s total issued and outstanding voting shares, at an offer price of THB 15.00 per share. The offer was launched on 29 June 2026, with the tender offer period running from 30 June 2026 to 5 August 2026. The transaction involved advising on all Thai law aspects of the voluntary tender offer, including regulatory compliance, transaction implementation, preparation and review of the tender offer documentation, and coordination with the relevant regulatory authorities and other stakeholders throughout the offer process. TTT+Partners was led by Veeranuch Thammavaranucupt, with support from James Lawden, Arnut Pongprueksa, Thananya Chaikamonsuk, Maythawi Boonyapinyo, and Supitchaya Chanpal.

TTT+Partners advised Tanachira Retail Corporation PCL (“TAN”) on its strategic partnership with Saha Pathana Inter-Holding PCL (“SPI”), I.C.C International PCL (ICC) and TPCX Company Limited one of Thailand’s leading business groups. The transaction establishes a collaborative platform and intermediary framework for the acquisition, development, and expansion of brands and business ventures in Thailand and internationally. The partnership is intended to strengthen TAN’s retail ecosystem and support its long-term growth strategy through the introduction and scaling of new brands. The transaction represents a significant milestone in TAN’s retail portfolio development and is expected to facilitate the launch and expansion of new flagship brands in Thailand over the coming years. Our scope of work included advising on the overall transaction structure, reviewing and drafting relevant transaction documentation, and providing comprehensive advice on corporate, commercial, and regulatory matters in connection with the strategic collaboration, as well as supporting the client throughout the structuring, execution, and implementation of the partnership arrangement. The team was led by Parithat Chamnongsilp working alongside Lapas Komarapajkul and Nutcha Maneein.

TTT+Partners is pleased to announce that, together with Linklaters Asia, the firm has received the "M&A Deal of the Year" award for the landmark GULF-INTUCH merger at the 2026 Asian Legal Business SE Asia Law Awards. This prestigious accolade underscores our strength in advising on complex, high-value, and transformative transactions, and reflects our continued commitment to delivering exceptional legal solutions. In this significant transaction, TTT+Partners advised Intouch Holdings PLC (INTUCH) and Singapore Telecommunications Ltd. (Singtel), while Linklaters acted for Gulf Energy Development PCL (GULF). The merger brings together leading publicly listed companies in Thailand’s energy and telecommunications sectors and will lead to the creation of a newly listed company, further enhancing the country’s digital and energy landscape. The TTT+Partners team was led by Veeranuch Thammavaranucupt, James Lawden, and Arnut Pongprueksa, with invaluable support from Maythawi Boonyapinyo and Supitchaya Chanpal. Arnut Pongprueksa and Maythawi Boonyapinyo kindly represented the firm at the ceremony accepting the award on behalf of the team. We are deeply grateful to ALB for this recognition and sincerely thank our clients for their trust and confidence. We also extend our appreciation to Linklaters for their outstanding collaboration throughout this transaction. Not least, we thank the broader team, whose collective efforts were central to delivering one of the most significant and complex recent transactions in Thailand and the region.

TTT+Partners acted as Thai legal counsel to JustCo Holdings Pte. Ltd., a leading Asia-Pacific flexible workspace operator, on its SGD 100 million initial public offering and listing on the Mainboard of the Singapore Exchange (SGX). The IPO involved the issuance of 32.1 million shares and 74.3 million cornerstone shares at SGD 0.94 per share, and represents a key milestone in JustCo’s regional growth strategy across Asia-Pacific, including continued investment in its Thailand operations. The proceeds will support the company’s “protect and grow” strategy, including capital expenditure, IT infrastructure upgrades, and workspace fit-outs across existing hubs, as well as expansion into additional regional markets. The transaction involved a complex cross-border offering requiring Thai legal input on regulatory compliance, employment matters, and commercial leasing frameworks for flexible workspace operations. Our team supported the client throughout the transaction, including due diligence on Thai subsidiaries and review of disclosure documentation for the IPO prospectus. TTT+Partners team was led by Veeranuch Thammavaranucupt, with support from Supasiri Korattana, Thanchon Phetroocheang, Kanatat Damrongchaitham, and Veerapattra Mangmee.

TTT+Partners warmly welcomes the third cohort of the TTT+Partners Summer Associates Program for 2026. Over the past three years, the program has developed into a highly selective and distinguished platform for aspiring legal professionals, offering a rigorous ten-week immersion into the standards, discipline, and expectations of leading legal practice. This year, we are proud to welcome an outstanding group of law students from Chulalongkorn University, Thammasat University, and Srinakharinwirot University, each selected for their academic achievement, intellectual rigor, and potential to contribute to the profession: CLASS OF 2026 • apichatpong kongjaroon  • Aratchaporn Pattarakodchakorn  • Noramon Suvannawongse  • Parattakorn Kanjanakantika  • Passavit Onsaloong  • Pattarawadee Chunsanit  • Phawin Sakulwong  • Piyachat Kaovirul  • Piyapat Itsararangsun    We look forward to accompanying you during this important stage in your legal careers!

TTT+Partners advised the existing shareholders of Solution One Holding Co., Ltd. (SOH) and Digital One Solution Company Limited (DOS) on the strategic sale of a 49% stake in each company to Universal Music Group (UMG). The transaction involved the disposal of shares representing a 49% interest in each company, alongside the execution of a joint venture agreement establishing the framework for a future strategic partnership between the parties. The deal also featured a sophisticated structured arrangement designed to ensure that full ownership of the companies will transfer to UMG within a predetermined timeframe and at an agreed consideration. Our work included conducting comprehensive legal due diligence, advising on the transaction structure, and drafting and negotiating the share sale agreements and joint venture agreement. We also provided guidance on regulatory compliance and supported the client throughout closing to ensure a smooth transition. Following completion, UMG will hold a significant strategic stake in the companies, with the arrangement setting the path for eventual full ownership. This transaction strengthens UMG’s position in the digital music solutions sector by partnering with established local players. The transaction was led by Veeranuch Thammavaranucupt and Pitchaya Kittiwittayakul.