PDLegal recently acted as Singapore legal counsel to Smartworks Space Pte. Ltd. (“Smartworks Space“), a wholly-owned subsidiary of BSE- and NSE-listed Smartworks Coworking Spaces Limited, in its acquisition of 100 percent of the shares in Workstudio Spaces Pte. Ltd. (“Workstudio“).
The transaction was completed by way of an all-cash share purchase with an equity value of S$2.47 million, following which Workstudio will become a wholly-owned subsidiary of Smartworks Space.
The acquisition of Workstudio adds approximately 26,000 sq. ft of premium managed office space at 78 Shenton Way in the Central Business District, taking Smartworks Space’s portfolio to four centres in Singapore spanning approximately 76,000 sq. ft. The acquisition represents a significant milestone in Smartworks Space’s regional expansion strategy and further strengthens its presence in Singapore’s premium flexible workspace market.
Peter Doraisamy, Group Managing Partner of PDLegal, comments on the transaction:
“This transaction demonstrates PDLegal Singapore’s evolving ability to advise on M&A transactions from due diligence and documentation through to completion. It also reflects the strength of our cross-border capabilities in supporting international clients pursuing strategic growth opportunities in Singapore and wider afield.”
The PDLegal team was led by Group Managing Partner Peter Doraisamy, with support from Counsels T Dinesh, Pranav Kamnani and TSL’s Legal Associate, Ben Lim.
Read the press release here.
