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K&L Gates Straits Law LLC Advises BlueBasket on Joint Venture with Yanolja

30 June 2022

Singapore – K&L Gates Straits Law LLC, the Singapore office of global law firm K&L Gates, recently advised Singapore e-commerce company BlueBasket on its cross-border joint venture with Yanolja Cloud, a Korean leisure platform that was the recipient of US$1.7 billion in funding from SoftBank Vision.

The transaction involved the injection of a portfolio of shares, hard assets and IP into a Singapore-based FoodTech joint venture, Gusto X.  Under the agreement, Gusto X will utilize innovative technologies such as AI, IoT and blockchain to develop projects and solutions in the global FoodTech industry.

The deal team was led by Singapore corporate partner Marius Toime with assistance from Singapore associate Jean Gan.

Toime stated: “This is an important transaction for our client that will help them innovate.  It also demonstrates the strength of our cross-border M&A capabilities and our ability to help our clients achieve their commercial objectives in times of economic volatility.”

This press release is issued by K&L Gates Straits Law LLC, a Singapore law firm with full Singapore law and representation capacity, and to whom any Singapore law queries should be addressed.  K&L Gates Straits Law is the Singapore office of K&L Gates, a fully integrated global law firm with lawyers located in five continents. The firm represents leading multinational corporations growth and middle-market companies, capital markets participants and entrepreneurs in every major industry group as well as public sector entities, educational institutions, philanthropic organizations and individuals.

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