Latham & Watkins has advised Fullerton Healthcare Corporation Limited on its merger to create Fullerton Health. The transaction involved an equity injection by RRJ Capital and a senior loan totalling S$390 million. Following the merger, RRJ is now the majority shareholder of the company.
RRJ has subscribed for S$140 million of new ordinary shares in Fullerton Health, while the company has entered into a senior loan facility agreement for S$250 million. RRJ’s existing perpetual securities and convertible preference shares have been cancelled and offset against S$180 million worth of new shares issued by Fullerton Health, as well as subordinated debt and cash.
The Latham team was led by Singapore corporate partner Sharon Lau, with associates Carolyn Wong, Jonathan Wah, and Ming Wei Loo. Advice was also provided on finance matters by Singapore partner Timothy Hia, with associates Marc Tan and Rebecca Han; on tax matters by London partner Karl Mah, with associates Aoife McCabe and Abigail Jacobs; and on Singapore law matters by Singapore partner Farhana Sharmeen.