Panyavith assists major local and multinational clients in a range of heavily regulated industries, such as healthcare & life sciences, chemical and biotech, on large complex mergers and acquisitions, private equity transactions, joint ventures, corporate restructurings, post-acquisition integration projects, commercial agreements and regulatory issues. With his technical and commercial astute, Panyavith has often been involved in a number of pioneering projects, helping clients navigate the challenges of uncharted waters and emerging opportunities with innovative solutions.
He is recently recognized as "Up and Coming for Corporate and M&A" in Thailand by Chambers Asia-Pacific 2023.
His primary focus is on healthcare & life sciences and tech transactions, including fundraising, M&A, technology and life sciences collaborations, commercial agreements (including distribution agreements, supply agreements and contract manufacturing agreements) and legal advice for start-ups. He is one of the first practitioners in Thailand to assist healthcare and health tech companies in the area of telemedicine regulations, collaborations and investment, which have been accelerated by the COVID-19 pandemic. Panyavith has also been involved in policy discussions with the Thai Food and Drug Administration on innovative projects, including telepharmacy and medicinal cannabis and hemp. He is also one of the first practitioners in Thailand to advise on, and develop, the legal and contractual framework for a venture capital investment in portfolio companies in Thailand, having advised one of the first major global early-stage venture capital fund to systematically invest in Thailand and lay the groundwork for the startup ecosystem.
Panyavith is a member of Baker McKenzie's Asia Pacific Healthcare & Life Sciences Industry Group Steering Committee and is a founding partner of the Firm's global cannabis working group.
Representative Legal Matters
- Assisted AGC Inc. with its landmark M&A project. The project involved a series of M&A and corporate transactions, including (i) the restructuring involving AGC Chemicals (Thailand) Co., Ltd. and AGC Chemicals Vietnam Co., Ltd., (ii) the delisting of Vinythai Public Company Limited from the SET, (iii) the amalgamation of AGC Chemicals (Thailand) Co., Ltd. and Vinythai Public Company Limited to form AGC Vinythai Public Company Limited (AVT), ultimately creating the largest chlor-alkali chemicals business in Southeast Asia, and (iv) the private placement of the shares in AVT to PTT Global Chemical Public Company Limited (PTT GC).
- We advised a leading healthcare manufacturer on the divestment of their consumer healthcare division in Thailand as part of their global separation plans of their consumer health business. The restructuring is expected to include over 60 jurisdictions, including the US, EMEA, Asia and South America.
- Assisted Choco Card Enterprise Co., Ltd., in the Series C round of fund raising with additional investment into the Company at the valuation of approximately THB 1.5 billion by: (i) Techmatrix Corporation, a Japanese listed tech giant, who was the lead investor in this round; (ii) Finnoventure Private Equity Trust I, the first startup private equity trust fund in Thailand managed by Krungsri Finnovate Company Limited; and (iii) InnoSpace (Thailand) Company Limited, Thailand's first national startup platform (funded by various government agencies, state enterprises, private conglomerates, and financial and educational institutions, including assisting the client with the drafting and negotiation of all the relevant transaction agreements, as well as the closing of the transaction.
- Assisted a leading food and beverage manufacturer with the successful closing of the reorganization, including the change in the business model, of its joint venture with a leading beverage manufacturer, for the manufacture of healthy beverages in Thailand and the region. The project involved rounds of intensive review, negotiation, and amendment of a suite of joint venture agreement and other commercial agreements, including a distribution agreement, a co-packing agreement, and various other service agreements.
- Assisted the owner and operator of a very fast-growing restaurant chain in Thailand, with the acquisition of shares in the Company by one of the largest telecommunications company in Thailand at the purchase price of THB 1.2 billion. We assisted the client with all aspects of the transaction, including the pre-sale restructuring, self-due diligence, the drafting and negotiation of all the transaction agreements, including the share sale and purchase agreement, the share subscription agreement, and the shareholders agreement, as well as the closing of the transaction.
- Assisted a leading seller of solar rooftop panel and home battery storage in Thailand, with other additional investment into the company. We assisted the client with the negotiation and drafting of all the transaction agreements, including the share subscription agreement and the shareholders agreement, as well as the closing of the transaction, all within an extremely tight timeline of about three weeks. The added complexity of this deal was also in negotiating with and managing nine different investors simultaneously, as well as the Company's management.
- Assisted the investment arm of an up-and-coming hospital group in Thailand, in the acquisition of shares in Southeast Asia's first and only precision gut microbiome company based in Singapore, based on the company valuation of USD 28 million. We assisted the client with the review of transaction agreements, including the shareholders agreement and the share subscription agreement, and advising on any associated risks and issues.
- Assisted ICON Framework Co., Ltd., Thailand's leading and only comprehensive real estate management system provider, with the investment into the company by Krungsri Finnovate Company Limited, the corporate venture capital arm of Bank of Ayudhya Public Company Limited, with a post-money company valuation of over THB 1.6 billion.
- Assisted Vimut Hospital Holding Company Limited, a subsidiary of Pruksa Holding Public Company Limited (the largest real estate developer in Thailand and listed on the Stock Exchange), in its first acquisition to diversify into the healthcare space by acquiring 51% of the shares in Theptanyapa Co., Ltd., the owner and operator of Theptarin Hospital, the first diabetes and thyroid center in Thailand.
- Assisted a leading multinational conglomerate founded in Thailand, in its largest ever acquisition in the healthcare space through its approximately USD 300 million acquisition four companies and their subsidiaries in the ASEAN countries, which make up one of the largest group of companies in the healthcare industry in Thailand, whose main business include the manufacture and sale of drugs, food supplements, cosmetics, and medical devices and the conduct of bioequivalence studies.
- New York~United States (2014)
- University of Pennsylvania Law School (LL.M. with Distinction) (2013)
- University of Pennsylvania Wharton School (Certificate in Business and Law) (2013)
- The London School of Economics and Political Science (LL.B., Upper Second Class Honors) (2010)
Lecturer, Contract Negotiation and Drafting Course, Bachelor of Laws Program at Chulalongkorn University
Guest Lecturer, Business Law, Masters of Law Program, Thammasat University
Co-author, "The Cabinet approves the extension of tax breaks to promote greenhouse gas reduction," Baker McKenzie, Jan 2023
Co-author, "New merger law: Coming into effect February 2023," Baker McKenzie, Nov 2022
Co-author, "Draft Regulation on health claims for foods open for public hearing," Baker McKenzie, Oct 2022
Co-author, "Parliament approves new method of business integration," Lexology, Sep 2022
Firm Committee Memberships
- Baker McKenzie Asia Pacific Healthcare & Life Sciences Industry Group Steering Committee
- Baker McKenzie Global Cannabis Working Group