Stephenson Harwood (Singapore) Alliance has advised GDF Suez on the acquisition through its wholly-owned subsidiary, Cofely South East Asia of Keppel FMO, a wholly-owned subsidiary of Keppel Infrastructure Holdings. The acquisition signed and competed in Singapore on 28 November 2014.
Keppel FMO is one of the strongest providers of integrated facilities management (FM), property management, operation and maintenance, and FM consultancy services in Singapore, operating across a wide spectrum of industries and markets, including airport, rail, healthcare, education, government, mission-critical commercial facilities. Keppel FMO, which also has operations in Qatar, employs around 1,000 people and generates annual revenues of approximately SG$90 million.
Tom Platts, corporate partner in Singapore commented "We're delighted to have once again advised GDF Suez on a significant strategic transaction, as it strengthens its Singapore and South East Asia FM operations. The Keppel FMO transaction follows on from our work for GDF Suez earlier this year when our team in London advised on its £190 million acquisition of Lend Lease's UK FM business, and last year when we advised on its £190 million acquisition of Balfour Beatty's UK facilities management division. It is also the second recent acquisition for GDF Suez that we have advised on, following Cofely's acquisition of a 49% stake in Pendinginan Megajana in Malaysia in late 2012."
The Stephenson Harwood (Singapore) Alliance transaction team was led out of Singapore by corporate partner Tom Platts, who was assisted by lead senior corporate associate Joel Shen, with support from senior associates Emma Nicholls and Helen Rhind-Hufnagel. Singapore law assistance was provided by corporate partner Allan Tan and registered foreign lawyer Vivi Tan. Significant assistance and advice was provided across the Stephenson Harwood network from Andrew Edge, Rob Gray and Graeme Barton (corporate and commercial), Marta Garcia (competition) and Maryanna Sharrock and John Meehan (tax). Financial advice was provided by a team led by Ralf Pilarczyk, regional head of M&A at Standard Chartered Bank in Singapore.