THE ALTERNATIVE VIEW
Private Equity and M&A – Southeast Asia

By: Alternatives.pe

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Southeast Asia M&A Deals

Levanta Renewables, a subsidiary of Levanta Holding Pte. Ltd., acquired the remaining 10% stake in SUNFLOWER SOLAR, a producer and distributor of solar energy in Thailand, from Super Energy Corporation for USD 15 million. This acquisition followed Levanta’s prior acquisition of a 90% stake in Sunflower Solar in May 2024 for over USD 140 million. Proceeds from both transactions will be used by Super Energy to reduce debt, finance other renewable energy projects and support its expansion, including a 171 MW wind farm in Vietnam, as part of its strategy for continued growth in 2025.

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PT Bank Tabungan Negara Tbk has announced plans to acquire BANK VICTORIA SYARIAH, Bank Victoria’s sharia banking unit in Indonesia. According to the prospectus published in the media, PT Bank Tabungan Negara will acquire Bank Victoria Syariah for USD 65 million. The acquisition will be funded through PT Bank Tabungan Negara Tbk’s internal resources.

Luxury expedition cruise company Ponant Explorations Group has acquired a majority stake in boutique cruise line

AQUA EXPEDITIONS, a Singapore-based luxury cruise and expedition company specializing in unique maritime travel experiences. Aqua Expeditions reported a 40% revenue growth for the FY ending in December 2023.

 

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REVENUE UPDATES

CHAMPSWORTH DEVELOPMENT, a Singaporean property development company, generated over USD 154 million in revenue for the FY ending in March 2024, a 355% year-on-year growth. Meanwhile, its EBIT recorded a loss of USD 1 million, a significant jump from a loss of USD 11 million in March 2023.

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SINGAPORE METHYL CHEMICALS, a Singapore-based manufacturer of MMA-Monomer and Polymethyl Methacrylate resin, achieved revenue of USD 203 million, reflecting a 30% decline compared to the previous year.

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