Rajah & Tann Singapore advised Duchess Avenue Pte. Ltd. as offeror in its conditional exit offer for shares in Golden Energy and Resources Limited, which is listed on the Main Board of the Singapore Exchange Securities Trading Limited, pursuant to a voluntary delisting of the company. The exit offer is conditional on, amongst others, the distribution in specie of shares held by the company in PT Golden Energy Mines Tbk, which is listed on Indonesia Stock Exchange. Based on the effective offer price of S$0.846 per share, the group is valued at S$2.23 billion. Partners Danny Lim and Penelope Loh led the transaction.