August 1, 2018
UST Group raises USD 250 million from Temasek, becomes Unicorn
UST Global has raised approximately USD 250 million from Macritchie Investments Pte. Ltd., an investment company belonging to the Temasek group, making UST a unicorn. Temasek has acquired approximately 20% stake in UST vide this transaction. The UST Group is a leading digital technology solutions group, which provides advanced computing and digital services to large private and public enterprises around the world, including Fortune 500 companies. Temasek is a Singapore-owned global investment company with a portfolio of over USD 200 billion.
We, at Nishith Desai Associates, acted as transaction counsel to UST Global, and advised on legal, regulatory and strategic aspects of the transaction.