Clifford Chance has advised Mitsui & Co and Mitsui Sugar Co on their acquisition of a 16.7 percent stake in Thai sugar maker, Khonburi Sugar Public Company.

The two companies have also entered into a strategic alliance to grow Khonburi’s operations domestically and overseas.

Tokyo-based partner Andrew Whan led the Clifford Chance team on the deal, with assistance from partner Andrew Matthews and counsel Angela Nobthai in Bangkok.

“We continue to see a high level of interest by Japanese companies in outbound investments, particularly in Southeast Asia,” said Whan in a statement. “Competition for quality assets in this region will remain high as European and U.S. companies are increasingly shifting their focus on acquisitions in this red hot market.”

The investment is subject to shareholder approval, and is expected to take place in February next year.

Kanishk Verghese is North Asia journalist at ALB. Follow us on Twitter: @ALB_Magazine.

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