SRPP advised OR on its THB 1,105 million investment in the "Otteri" laundromat business

SRPP NEWS l 23 June 2022

SRPP acted as a legal adviser to PTT Oil and Retail Business Public Company Limited, or OR in connection with its acquisition of 40% shares in KNEX, the operator of laundromat business for approximately 1,105 million baht.

On June 16, 2022, Ms. Jiraporn Khaosawad, Chief Executive Officer and President of PTT Oil and Retail Business Public Company Limited, or OR, presided over the signing of the Shareholder Agreement and the Share Subscription Agreement between OR and K-next Corporation Company Limited. "Otteri Wash and Dry" now has 670 locations, with plans to build more branches both within and outside of PTT Station to suit the demands of consumers.

The transaction involves a complex restructuring of KNEX and the novation of certain material agreements with the franchisor and is aimed to close by quarter 3 of 2022. The transaction is led by Panuwat Chalongkuamdee (Founding Partner), Natira Siripun (Counsel), Viparvee Chaemchaeng (Associate), Chalida Siriyakorn (Associate), Thannawat Apitukkakul (Associate) and Pakjira Promkasetrin (Associate).

You may view Panuwat's profile here.

You may view Natira's profile here.

You may view Viparvee's profile here.

You may view Chalida's profile here.

You may view Thannawat's profile here.

You may view Pakjira's profile here.