Thought leadership series – Thailand M&A landscape

M&A transactions in Thailand are starting to recover as COVID-19 eases. Private equity and venture capital investors are becoming more active on the Thai market and exploring bankable deals, while Thai companies started expanding to international markets.

24 November 2021

According to Mazars' November 2021 report, there have been 206 deals announced as of 31 October 2021 (year to date as of 31 October 2021). We note that 139 deals were closed in 2020, and 101 deals have been closed so far in 2021. Thai technology start-ups are gaining significant traction from international private equity and venture capital investments, and we have seen quite a few transactions in this sector recently.

Mr. Prasenjit Chakraborty, the financial advisory services partner of Mazars in Thailand, noted that although M&A transactions are clearly increasing, and we feel that buyers are going to be more cautious before committing their investments going forward. Buyers will be more focused on the due diligence process, including financial, tax, and legal review, to find significant red flags in the target business and which will result in the offered valuation being adjusted or in condition precedents being required in the purchase agreement. In addition, we believe that buyers will be more interested in growth opportunities for target businesses.

Mazars’ experienced M&A professionals actively assist clients with end-to-end M&A transaction services covering due diligence, valuation and financial modelling, negotiations, drafting purchase documents, and more, as well as insight on the continuous changes in the M&A landscape. Our integrated approach includes tax and legal professionals, who provide valuable insights on both due diligence and structuring considerations. Contact our experts to discuss your transactions further.

Meanwhile, Mr. Jonathan Stuart-Smith, the Tax Partner of Mazars in Thailand, added that Mazars is able to provide taxlegal and financial advisory services for those interested in making M&A deals.

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The full Mazars' November 2021 report is available for download below. 


Thailand MA landscape_​November 2021