Rajah & Tann Myanmar acted for Myanma Apex Bank Limited (“MAB”) in its financing of the acquisition of a majority stake in Digital Money Myanmar Limited, which operates Wave Money, the largest e-payment business and the first non-bank institution to be licensed as a mobile financial service provider in Myanmar, from Telenor group by a consortium led by Yoma Group.
The firm is acting for MAB in negotiating and drafting the relevant financing documents governing its extension of a cross border loan facility to finance Yoma Group’s contribution to the purchase price to be paid by the consortium for a 51% stake in Wave Money.
The deal was led by Partner Alroy Chan, supported by lawyer Joshua Law.
