The Legal 500

High-value transactions have featured heavily in Ali Budiardjo, Nugroho, Reksodiputro’s recent workload. The practice advised Lotte Shopping on its $300m acquisition of nineteen MAKRO supermarkets in Indonesia and was also instructed by Qatar Development Authority on the establishment of a $1bn infrastructure development joint venture. Woody Pananto, Theodoor Bakker and Oene Marseille are recommended.

Hadiputranto, Hadinoto & Partners was active on numerous impressive banking M&A mandates throughout the past year. Led by Tuti Hadiputranto the team advised Bank Niaga in its merger with Bank Lippo. Tuti Dewi Hadinoto and Mita Djajadiredja received plaudits for their advice to HSBC on its acquisition, through its wholly-owned subsidiary HSBC Asia Pacific Holdings (UK) Limited, of an 88.89 per cent share of Bank Ekonomi Raharja (Bank Ekonomi).

At Hiswara Bunjamin & Tandjung, recent highlights included advising a regional financial institution on its bid for a listed Indonesian bank and Navis Capital on its acquisition of the operator of an Indonesian chain of fitness centres and a shoe manufacturing company. In addition the practice, alongside Herbert Smith LLP’s Singapore office, advised British American Tobacco on its $494m acquisition of an 85% stake in Indonesia’s fourth largest cigarette maker, Bentoel International Investama. David Dawborn and Iril Hiswara are singled out for praise.

Makarim & Taira S. is instructed by some of the biggest names in the banking sector, including Standard Chartered. The practice advised Sun Life on the formation of a joint venture life insurance company with CIMB Group and Bank CIMB Niaga. Tasdikiah Siregar and Gregory Ranslam are noted for their expertise in bank-related M&A, while Richard Cornwallis is also recommended.

Led by Melli Darsa herself, who ‘boasts a CV that is untouchable in banking M&A’, Melli Darsa & Co. advised Barclays Bank on its $10.4m acquisition of Bank Akita. Delivering ‘full and appropriate advice in a timely way’, the practice also advised Indika Energy on the acquisition of 81.95% of the shares of Petrosea. Clients also include Northstar Pacific. Senior associate Kenna H Safrudin is singled out as being ‘highly intelligent, competent and delivering high-quality advice’.

Mochtar, Karuwin & Komar recently advised Toyota on regulatory matters in addition to receiving instructions from leading Indonesian tobacco company HM Sampoerna. Delivering ‘solid overall quality’, the practice also boasts clients in the mining and energy sectors. Joint heads of practice Miranti Ramadhani and Tiffany Gita Boer are recommended.

‘Very knowledgeable, responsive and accurate in its advice’, Soewito Suhardiman Eddymurthy Kardono recently advised Avenue Group USA on a $30m acquisition of a stake in Bank Mayapada International. Other highlights included representing a consortium of Persada Group and Union Sampoerna in the $125m acquisition of shares in four plantation companies from the Kulim Group (Malaysia) and Grahasetya Utama (GSB Group). Ira A Eddymurthy is ‘particularly strong’.

Lubis Ganie Surowidjojo recently advised Unilever on its asset acquisition of major Indonesian brands Buavita and Go Go, previously registered under Ultrajaya Milk Industry & Trading. The practice is instructed by clients from a range of sectors including coal mining and financial services. Abdul Haris Muhammad Rum is recommended.

The ‘excellent’ Soemadipradja & Taher ‘covers all points fully and gets very involved in the process’, say clients who include the AXA Group. Recent highlights include advising the CIMB Group on its acquisition of Asuransi Jiwa John Hancock Indonesia and the representation of the Accette Group on its acquisition of Accette Broker Assuransi. Foreign council Robert Reid brings ‘good vision and team management skills’, while senior associate Retno Muljosantoso is ‘knowledgeable and efficient’.

Assegaf Hamzah & Partners boasts a solid track record and a notable strength advising on transactions with a Malaysian element. It recently represented Holcim Indonesia in the acquisition of Malaysian company Holcim. In addition, it advised Malaysia’s largest bank, Maybank, in the acquisition of majority shares of the holding companies of Bank Internasional Indonesia. Ahmad Fikri Assegaf and Bono Daru Adji are recommended.

With managing partner Wahyuni Bahar at the helm, Bahar & Partners advised Qatar Telecom (Qtel) on its acquisition of majority shares in Indosat. Subsequently it received instructions to assist Qatar Telecom (Qtel) on its tender offer on the Series B Shares of PT Indosat.

Many of the corporate instructions for Hanafiah Ponggawa & Partners involve restructuring elements and call upon the firms full-service capabilities. Notable in this area was the advice rendered to Pertamina on the restructuring of 62 subsidiaries, with a total value of $900m. Al Hakim Hanafiah and Fabian B Pascoal are recommended.

Clients state that the ‘strengths of Hendra Soenardi & Rekan are knowledge of the law and experience - they are hands-on lawyers’. Recent instructions include acting for Alam Tri Abadi in its $1.1bn acquisition of Agalia Energy Investments and Ariane Investments Mezzanine. Eddy Hendra and Soenardi Pardi are recommended.

Clients describe the practice at Mataram Partners as ‘very thorough, highly analytical and pro-business, with significant knowledge of local culture/traditions/sensitivities’. Oliver Wright is ‘a rare find’ and alongside Andi Zulfikar advised an Asian oil & gas company on the sale, by tender, of a company holding a participating interest in an oil & gas field in Sumatra.

Soebagjo, Jatim, Djarot has a solid mining and steel manufacturing client base, which includes the likes of Ispat Indo and ArcelorMittal. Recent highlights include advising Tekno Orbit Persada on a potential $100m acquisition. Emir Firdaus is the name to note.

‘Very good’ partners Nini N Halim and Inka Kirana head the practice at Hutabarat Halim & Rekan. Clients state that the ‘strengths of the practice are that it is persistent and quick to absorb new industry knowledge’. It recently represented state-owned Perkebunanan Nusantara II (Persero), in connection with the joint operation arrangement for a palm oil and rubber plantation. Additional clients include Mitsui Matsushima and Sindicatum Carbon Capital.

Reflecting its strength in the energy and 
mining sector, Widyawan & Partners recently acted for one of the bidders to acquire a shareholding in Bumi Resources from Bakrie & Brothers. It also advised Rio Tinto on the Indonesian aspects of Chinalco’s proposed $19.5bn investment in the company. David Holme and Yolanda Hutapea are recommended.

Hadromi & Partners benefits from its affiliation with UK firm Bond Pearce LLP. Highlights include advising an Indian based conglomerate on a multimillion-dollar acquisition of coal mining concessions in Indonesia. Iqbal Hadromi is recommended.

KarimSyah recently advised a national construction company on its acquisition by a Middle East-based investor. Other work included advising a telecoms client on the acquisition of shares in a foreign-owned company. Iswahjudi Karim leads the three-partner team.

Recent transactional highlights for Makes & Partners included advising on the establishment of a joint venture for a shipping company with capital investment of over $1m. Clients value the ‘very commercial approach’ taken by Yazua Makes and the team.

Adnan Kelana Haryanto & Hermanto’s practice received high praise from the market with Andy Kelana repeatedly praised.

Founding partner Enrico Iskandar is building a notable reputation at the recently formed Bastaman Enrico.

Brigitta I. Rahayoe & Partners In Association with Deacons is instructed by domestic and international investors and businesses. The firm continues to benefit from its association with Deacons.

Christian Teo is the name to note at Christian Teo & Associates. Past clients include Reckitt Benckinser.

Dewi Soeharto Maramis & Partners benefits from relationships with a number of international law firms and consulting companies. Dewi Kamaratih Soeharto is recommended.

Clients of Ricardo Simanjuntak & Partners include International Nickel and Bank Sumitomo Mitsui. Ricardo Simanjuntak is recommended.

Tumbuan Pane benefits from the reputation of its senior managing partner Fred Tumbuan.