M&A Report 2022: Thailand | International Financial Law Review

During the first half of 2021, M&A activity in Thailand was slow, with several transactions being pulled, delayed or put on hold due to the Covid-19 pandemic. However, there were signs of recovery during the second half of 2021, as the Thai government’s lockdown and travel restrictions were eased and business operators adapted to the new business environment.

Several sectors gained traction as Thailand recovered from the pandemic in the second half of 2021, including financial services, e-commerce, retail, telecommunications, media and technology (TMT), and renewable energy.

The Thai markets are driven by both private and public M&A transactions. While there has been an increase in public M&A deal volume, private M&A is more prevalent given that the target companies are mostly private companies and that…