Corporate and M&A in Bangladesh

A.S & Associates

Over the course of 2022 and 2023, A.S & Associates has appeared in transactions regarding several large acquisitions by NYSE listed companies and operates as a 'one-stop shop service' which is able to ‘advise on different aspects of Bangladesh law’. The group is lauded for its ‘corporate advisory, planned M&A, regulatory assessment and subsequent operational support.’ Uniquely, the firm is strong in the public sector and has experience advising governmental agencies and development partners for government departments. A.S.A Bari, Ferdausur Rahman, and Farhana Khan are key names to note in the team, with Khan being described by one client as ‘one of the best legal practitioners of the country by a clear margin'.

Practice head(s):

Ferdausur Rahman

Other key lawyers:

ASA Bari; Farhana Khan; Dewan Faisal


‘I think that A.S & Associates is one of the best corporate legal firms I have used across different jurisdictions. They also have strong incorporation, regulatory services and tax teams. The firm has the excellent knowledge and acumen which is required for cross-border M&A and commendable skills with tax structuring of the business.’

‘Additionally, their cost-effective support with incorporation, obtaining regulatory permits and operational strategic advice, including employment and compliance would be most beneficial for any business seeking full range of service from a trustworthy external partner house.’

‘For corporate advisory, planned M&A, regulatory assessment and subsequent operational support, including employment matters and compliance requirements, I have found the lead partner of the firm, Ferdaus Rahman, to be one of the best legal practitioners of the country by a clear margin. His way of working provides critical assurance to any entrepreneur/investor like myself, coming from a different jurisdiction.’

Key clients

American & Efrid (Bangladesh) Ltd.

ACE Advisory


ALS Firms Limited

American & Efird

Amzi & Associates

APM Global Logistics Bangladesh Limited

Banco Securities Limited

Beijing Deheng Law Firm

Beijing Kangda Law Firm

Bangladesh Clinical Trials Limited


Bangladesh Freight Forwarders Association

Bangladesh Power Development Board

Bird & Bird LLP

Cactus Materials Limited

Capital Alliance Limited

Classic FoodLab Limited

China Exim Bank Limited

China Railway Engineering

City Bank Capital Resources Limited

Clyde & Co. Clasis Singapore

Clyde & Co. UK

Codes & Labels Limited

Crane Properties Limited

Dahua Technology Bangladesh Pvt. Limited

Danish Condensed Milk Limited

Danske Bank AG

Deloitte Bangladesh

Deloitte India


Deutsche Bank AG

Devotech Technology Park Limited

Dhaka Bye-pass Expressway Limited

DLA Piper

Doctime Bangladesh Limited

Doreen Power House and Technologies Limited

Doreen Power Limited

Dorji-e Ltd

Drew & Napier

Energis Power Corporation Limited

Envoy Textiles Limited

EPV Thakurgaon Limited

Equitable Group

ESS Advisory

Etihad Airways

Evonik Bangladesh Limited

Financial Excellence Limited

Freudenberg & Vilene International Limited

Globalization Partners Limited

Godrej Household Products (Bangladesh) Limited

Grand Bengal Hotel Limited

Grandall Law Firm

Great Western Energy (BD) Limited

Harmony Builders Limited

Hector Global Limited

Hoda Vasi Chowdhury & Co.

Hogan Lovells

Huntsman Singapore Pte Limited

Huntsman Investment Netharlands B.V.

Hyundai Oilbank Co., Ltd

IDLC Finance Limited

Imagine Radio

InfraCo Asia Development Pte. Ltd.

Infrastructure Development and Company Limited

Institute for Healthcare Improvement

International Centre for Diarrhoeal Disease Research, Bangladesh

International Corporate Protection Group Ltd.

Jumo GmbH


Keystone Law

Khaas Food Limited

King Stubb & Kasiva, Advocates & Attorneys

Kyeryong Construction Industrial Co. Limited

Lanka Bangla Investments Limited

LG Electronics



Maersk Bangladesh Limited

Malala Fund

Mamiya-OP Co. Ltd

Matsuoka Corporation

Mayer Brown LLP

MBM Group

MCC (Singapore) Development Limited

Medecins sans Frontieres, France, Belgium, Spain and Holland

Meghna Bank Limited

Midland Bank Limited

Milvik Bangladesh Limited

Mitsui & Co Limited

Mostofa Metal Industries

Navana Electronics Limited

NCC Bank Limited

NDB Capital Limited

New Mileage (Hong Kong) Technology Limited

Nishimura and Asahi

NJS Consulting

Norinco Intl. Power Limited

NRB Bank Limited


Omnipresent Bangladesh Limited

Phoenix Finance Limited

Proton Holdings

Pubali Bank Limited

RPCL-Norinco International Power Limited

Saif Power Tech Limited

Sarens India Heavy Lifting Pvt Limited

Shah Fibbers Limited

Shameem Company

Shaoxing Keqiao Douan Imp and Exp Co. Ltd.

Sheba Platform Limited

Sichuan Road and Bridge (Group) Corporation Limited


Snehasish Mahmood & Co

Social Trust Co. Ltd.

Subra Limited

Subra Systems Limited

Terre Des Hommes

The City Bank Limited

The Himalaya Drug Company Ltd

The Salvation Army

Thomson Reuters Foundation

Vertical Innovations Limited

VIVO – Best Tycoon (BD) Enterprise Limited

Volkswagen Aktiengesellschaft

White & Case LLP

World Bank Group

Wulling Power Corporation

Xen Works Limited

Yonder Music Inc.


Zarbiz Limited

Zhejiang Huida Textiles and Garments Co. Ltd.

Zhong Lun Law Firm, Beijin

Work highlights

  • Advised a leading global oil and gas company on the proposed innovative foreign investment for the cross-broader carbon rights trading.
  • Advised one of the leading renewable energy investment companies in Bangladesh on structuring a multi-jurisdictional investment scheme of $150m.
  • Advised the consortium of leading Japanese investors on a global acquisition of a global leading mobile tower sharing company.

Doulah & Doulah

Doulah & Doulah is headed up by Amina Khatoon and Nasir Doulah; the pair are known for their project finance and development expertise and are praised alongside other team members for ‘giving good advice and finding solutions.’ The practice’s multi-jurisdictional setup is exemplified by its ability to be a ‘safe pair of hands in difficult jurisdictions,' and it advises on high-value M&A transactions, both in Bangladesh and internationally, including on the acquisition of major international banks. For the team, construction and infrastructure have been areas of significant growth, and the group has experience advising clients such as General Electric.

Practice head(s):

Nasirud Doulah; Amina Khatoon


‘Safe pair of hands in difficult jurisdictions.’

‘Nasrid Doulah gives good advice and can find solutions.’

‘Good attorneys, associates are helpful.’

‘They provide customised service as per individual need. Always available to respond.’

‘Unique service and close coordination with customers. Providing best solutions and advice.’

Key clients


Bill & Melinda Gates Foundation


JC Penney

Total Eren


Hero Future Energies

Ib Vogt

Cyclect Energy



Pendekar Energy

General Electric

Scatek Solar




Hyatt Hotels



Associated British Foods


China Energy Engineering Group

China Harbour

CAL Securities

Work highlights

  • Acting for IFC as a transaction adviser to the PPP Authority acting as local legal counsel on the development of Patenga Container Terminal on PPP basis.
  • Represented US based Beringia Energy Global LLC in acquiring two HFO / diesel run independent power plants in Bangladesh.
  • Represented Malaysia based Pendekar in consolidating its power assets in Bangladesh, including a number of power generation facilities  involving a large number of intra-group restructures, acquisitions and mergers.

Mahbub & Company

At Mahbub & Company, the ‘supportive and knowledgeable' practice head Saqeb Mahbub's ‘network and subject matter expertise makes him a true partner for any business.’ The group is fast-growing when it comes to M&A mandates, which is symptomatic of a growing Bangladeshi economy, and the team has increased the number of mandates in the technology startup community. The team is commended for its ‘timely delivery and detailed work for any query'. Elsewhere, the group has a foreign investment practice, including entity structuring and set-up support for foreign investors. Also notable in the team are associates Mohua Morshed, Tasmiah Zaman, and Rifat Rahman, who have excellent client service protocols and a customer-oriented attitude.

Practice head(s):

Saqeb Mahbub

Other key lawyers:

Mohua Morshed; Tasmiah Zaman; Rifat Rahman


‘The team has an incredibly diversified skillset. They have helped us on cross-border deal structuring. Seamless operation.’

‘Saqeb Mahbub is a supportive and knowledgeable person. His network and subject matter expertise makes him a true partner for any business.’

‘Timely delivery and detailed work for any query.’

‘Saqeb Mahbub and Tasmiah Zaman have excellent client service protocols and a customer-oriented attitude.’

‘Their team is very professional and competitive. We always get good service from them.’

‘Timely delivery, profound knowledge of legal issues professionalism.’

‘Valuable advice.’

‘Their work is detailed, and I felt as they were on my team wanting the best for me. Seqeb Mahbub, Mohua Morshed, and Tasmiah Zaman were all exceptional in their insightful advice on the joint venture.’

Key clients

Marc Group

MedEasy Heathcare Limited

Babuland Limited

Dekko ISHO Ventures Limited

North End (Pvt͘) Limited

Kochan Management Inc.

Jubilant Foods Limited

DAI, Bangladesh

Xiaomi Bangladesh

SBK Tech Ventures Ltd

Shikho Technologies Ltd


Peak Plan Management Pty Ltd.

Decathlon Bangladesh

InResource International ltd

ETAM Group

Export-Import Bank of Korea

Work highlights

  • Advised the largest global sporting goods retailer on corporate restructuring, employment law, compliance, and intellectual property matters, among others.
  • Advised a leading international ride sharing services company on setting up a company, legal compliance, and obtaining enlistment, license, and regulatory approvals in Bangladesh.
  • Advised a leading Australian Accounting Services Company on its cross-border investment structuring and acquiring of a leading private local company in Bangladesh.


TANJIB ALAM & ASSOCIATES often acts as local counsel for sellers in the acquisition of majority shares of large companies, and also frequently advises clients on large-scale, cross-border acquisitions. Tanjib-Ul Alam and Kazi Ershadul Alam are at the helm and are go-to practitioners for M&A matters. They are well supported by Nazmun Islam and associate Taskeen Siddiq. Islam has considerable expertise in the field of property law, and Tanjib-ul Alam specialises in corprate law, as well as demonstrating a strong ability to advise foreign investors on regulatory issues in a range of sectors, including the energy sector.

Practice head(s):

Tanjib-ul Alam; Kazi Ershadul Alam

Other key lawyers:

Nazmun Binte Islam; Taskeen Siddiq

Key clients

bKash Limited

United Group

Grameenphone Limited

The City Bank Limited

HSBC Bangladesh

Marico Bangladesh Limited

STS Holding Limited

Hapag Lloyd AG, Germany

Robi Axiata Limited

Partex Group

Work highlights

  • Represented Chittagong Stock Exchange and played an instrumental part in overseeing and finalising the requisite legal formalities for onboarding ABG Limited as the strategic partner.
  • Acted for Bangladesh Data Center Company Limited as counsel in drafting, negotiating, and finalising a joint-venture agreement with GenNext Technology Limited to set up Bangladesh’s first cloud data center named “Meghna Cloud” through its own technology and manpower.
  • Acted for Aavishkaar Frontier Fund and SEAF Bangladesh Ventures LLC in the acquisition of new share capital in a Bangladeshi export-oriented entity by new investors where both AFF and SEAF have shareholding.

The Law Counsel

The Law Counsel works across various disciplines and leverages its strong TMT nous to combine its TMT and corporate practice. Abdur Razzaq, Ehsan Abdullah Siddiq, and Imran Siddiq head up the practice and the latter is singled out by one client as ‘the best individual lawyer I have ever worked with in Bangladesh.’ The group ‘is known for its expertise, specialisation, experience and reputation, as well as its team credentials, innovative legal solutions, and client-centric approach.’ Individually, Ehsan Siddiq stands out for his Islamic banking expertise, and Razzaq is notable in his knowledge of the telecoms industry.

Practice head(s):

Abdur Razzaq; Ehsan Siddiq; Imran Siddiq


‘The Law Counsel is known for its expertise, specialisation, experience and reputation, as well as its team credentials, innovative legal solutions, and client-centric approach.’

‘The team is able to work to strict deadlines and respond to the demanding wishes of the client. Very responsive and diligent.’

‘Imran Siddiq is the best individual lawyer I have ever worked with in Bangladesh.’

‘I was impressed by their dedication to work and exceptional responsiveness in communicating with the client.’

‘We work with Imran Siddiq and are fully satisfied with his professional advice. He responds promptly and is straight to the point. He clarifies all issues that may arise.’

‘The individuals stand out.’

Key clients

Bashundhara Kings Football Club

VFS Global

Spectra Solar Park Ltd.

Johnson Wilshire Inc

BIGO Technologies Pte Ltd.


A.P. Moller-Maersk, Netherlands

Bangladesh Development Party

Islami Bank Bangladesh Ltd.

Caterpillar Power Generation Systems (Bangladesh) Ltd.

Rosatom, Russia

Saudi Arabian Airlines Ltd.

Cisco Systems Ltd., USA

Uber Inc, USA

Walmart Inc., USA

Philip Morris, USA

Reliance Insurance Ltd.

Willis Tower Watson

Automattic, France

Supermax, UAE

MGF Sourcing, Hong Kong

Nasdaq Inc.


Microsoft, USA

Nokia EA

Caterpillar Power Generation Systems (Bangladesh) Ltd.

Oracle Corporation Singapore (Pte) Ltd.

Master Builders Solution UK Ltd., UK

Work highlights

  • Advised Sika on the acquisition of Master Builders Solutions Bangladesh Ltd. by MBCC as part of the process of acquisition of the MBCC Group by the client.
  • Advised Willis Towers Watson on providing reinsurance services under Bangladesh law.
  • Advised Rosatom on the procedure for re-export of equipment and machineries imported for the purpose of establishing and operating a nuclear power plant in Bangladesh.

DFDL Bangladesh

Seen by clients as ‘a high-quality firm providing broad legal support for foreign multinationals entering Bangladesh’, DFDL Bangladesh often handles large foreign investment matters, and ‘is recommended for its ability to guide international clients through the complexities of investing in Bangladesh.’ Managing director Shahwar Jamal Nizam has been key in the group’s ability to assist international clients with their first investments into Bangladesh, utilising is ‘very broad network, both with international law firms and companies within Bangladesh’. Tarannum Tasnim and Mahboob Aziz and are also notable members of the team.

Practice head(s):

Shahwar Nizam

Other key lawyers:

Tarannum Tasnim; Mahboob Aziz, Saif Bhuiyan


‘Shahwar Nizam and the team are a great corporate practice in Dhaka. They provide international levels of service and are recommended for their ability to guide international clients through the complexities of investing in Bangladesh.’

‘The team is responsive, thorough and are a pleasure to work with. They are clearly focussed on building long-term relationships with their clients and invest time and effort in getting to know their clients.’

‘Shahwar Nizam has worked tirelessly to build a strong bench of practitioners, including Tarannum Tasnim on the finance side and Mahboob Aziz and Saif Bhuiyan on the corporate side.’

‘I have worked with the team for many years and can highly recommend them for their perseverance and hard work.’

‘A high-quality firm providing broad legal support for foreign multinationals entering Bangladesh. Very personal and responsive approach. Also pleasant to work with a law firm with good relationships with their client and apparently within the firm, and also maintains high ethical standards.’

‘The senior partner Shawar Nizam is outstanding and has a very broad network, both with (international) law firms as well as within Bangladesh to assist foreign investors.’

Key clients

SHV Energy

Kai Heng Long Ltd.

Actis GP LLP

Nebras Power Investment Management B.V.

Pinnacle Towers Ltd. backed by Kohlberg Kravis Roberts & Co

Work highlights

  • Assisted a client with its investment in the Singapore holding company of SureCash.
  • Acted for Actis as legal counsel in the acquisition of a 220 MW combined cycle gas turbine project under development at Bhola, Bangladesh, from Shapoorji Pallonji Infrastructure Capital Company Private Limited.
  • Assisted Kai Heng Long Ltd. with the acquisition of a Sri Lankan and UAE owned joint venture called Laugfs Gas (Bangladesh) Ltd.

Rahman & Rabbi Legal

Md. Monzur Rabbi leads Rahman & Rabbi Legal, a Dhaka-based group which adopts a multidisciplinary approach and is an advocate of the Supreme Court of Bangladesh. Retired district judge Md. Mahbubor Rahman is a key team member and also an advocate of the Supreme Court of Bangladesh. Key sectors for the group regarding contracts and transactions were the tobacco and banking industries.

Practice head(s):

Md. Monzur Rabbi

Other key lawyers:

Md. Mahbubor Rahman

Key clients

British American Tobacco Bangladesh Company Limited

Unilever Bangladesh Limited

Unilever Consumer Care Limited

BAT Mark Limited

Cybergen Inc.

Vannucci Oliveira, P.A. (USA)

Carlton Fields, P.A. (USA)

Bangladesh Telecommunications Company Limited

TUT, Joint Venture

Watson, Farley & Williams, Thailand

Zas Dermal

Zas Corporation

Carhartt WIP

Kuwait Airways

Lawback Network Technology Company Limited, China

Union Wealth Trading Limited


Tokio Marine Houston Casualty Company (USA)

Studio Metrodesk

Fiber@home Limited

Work highlights

  • Advised British American Tobacco Bangladesh Company Limited on a number of trademark infringement litigations.
  • Advised Unilever Bangladesh Limited on a writ petition regarding parallel importation of branded products and empty packing of the branded products into Bangladesh.
  • Advised Tokio Marine Houston Casualty Company (USA) on the allegations of issuance of fraudulent travel insurances in Bangladesh.

Vertex Chambers

The group at Vertex Chambers has significant corporate restructuring expertise and has recently strengthened this with the appointment of Asif Bin Anwar, a barrister who has experience acting in the Supreme Court of Bangladesh. Elsewhere in the team, Tanvir Quader, Junayed Ahmed Chowdhury, and Sajeda Farisa Kabir are names of note, with expertise in a range of practice areas, complimenting the group’s corporate and commercial expertise.

Other key lawyers:

Tanvir Quader; Asif Bin Anwar; Junayed Ahmed Chowdhury; Sajeda Farisa Kabir

Key clients

Al Barak Dates Factory LLC

Unilever Bangladesh Limited

Bay Developments Limited

World Bank Group

International Finance Corporation

Compassion International

SAJIDA Foundation

British American Tobacco Bangladesh

Marico Bangladesh Limited

Teach For Bangladesh

The City Bank Limited

Asiatic 3sixty

GE Medical Systems Bangladesh Limited

Louis Dreyfus Company

PricewaterhouseCoopers India

Refinitiv Limited

Standard Chartered Bank Bangladesh

Accord Shipping Limited

PRAN Foods Limited

Southeast Bank Capital Services Limited

Work highlights

  • Assisted a client with filing a trademark application of logos.
  • Advised a client on different ways to structure a micro-insurance service in Bangladesh in light of insurance laws and microcredit laws.
  • Advising a client on environmental and any other legal issues in connection with waste management, recycling and disposal of e-cigarette devices.