$344 million acquisition of TD Connex by Novo Tellus Capital Partners Pte. Ltd. and 65 Equity Partners Holdings Pte. Ltd.
Allen & Gledhill, as transaction counsel, advised Novo Tellus Capital Partners Pte. Ltd. (“Novo Tellus”), which, along with 65 Equity Partners Holdings Pte. Ltd., led the S$344 million acquisition of TD Connex, a division of Tongda Group Holdings Limited (“Tongda Group”).
The cross-border acquisition involved the spin-off of various Chinese, Singaporean and Indian entities, and comprised two parallel transactions involving business transfers of various entities held by the Tongda Group, and concurrently, the 100% acquisition of the shares of TT Connex Holding Pte. Ltd., Tongda Precision Technology (Singapore) Pte. Ltd. and Tongda (Xiamen) Elastomers Co Ltd..
Advising Novo Tellus were Allen & Gledhill Partners Christopher Ong, Lim Wei Ting, Yeo Boon Kiat, Eugene Ho, Lim Xiu Hui, Shalene Jin, Elsa Chen, Lee Bik Wei, and Sunit Chhabra.
