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Interlaw’s Singapore Firm Advises on Carousell Group’s acquisition of control of Laku6
Interlaw’s partner firm in Singapore, CNPLaw LLP, has acted for a group of sellers in their divestment of a controlling stake in Rebonics Pte Ltd (“Rebonics”) to the leading recommerce group in Greater Southeast Asia, Carousell Group.
Rebonics is the parent company of Laku6, an Indonesian electronics recommerce platform offering an online marketplace for buying and selling secondhand mobile phones. The transaction saw the exit of long-term individual and institutional investors in Rebonics, with Carousell Group stepping in with a US$25 million investment in Rebonics to bolster its growth in the Greater Southeast Asia electronics recommerce industry.
The CNPLaw team, Ken Chia, Hazel Ho-Tsastsina, Sylvia Koh and Lai Zheng Yong, represented, among others, one of the co-founders of Laku6, Mr Alvin Yap, who commended CNPLaw for its team effort in seeing the transaction through to completion.
Commenting on the deal, CNPLaw partners, Mr Ken Chia and Ms Hazel Ho-Tsastsina, said:
“Having been with Rebonics and its co-founders since early fundraising days, we are very fortunate to have been part of the company’s remarkable journey over the years and are now heartened for our clients to embark on this exciting new chapter with Carousell Group.”