A&G acts for Carousell merger with Telenor’s 701Search

Allen & Gledhill has advised Carousell, a Singaporean digital marketplace for new and secondhand goods, on its merger with 701Search, a subsidiary of a Norwegian telecommunications company Telenor Group, which was represented by Bird & Bird.

The merger values at more than $850 million and Telenor will become the single-largest minority shareholder in Carousell taking 32 percent stake in the merged company.

Partners Graeme Maguire, Marcus Chow, Seow Hui Goh, Michelle Chan and Beng Chai Tay from Bird & Bird were involved in the deal.