Next Generation Partners

Firms To Watch: Corporate and M&A

Hendra Soenardi handles M&A transactions, as well as related acquisition financing and refinancing.

Firms in the Spotlight Corporate and M&A

Frans Winarta & Partners

Frans Winarta & Partners logo

FWP’s Corporate and Commercial practice has been rapidly developed over the years and has been gaining excellent reputation by advising its clients from multinational companies, local companies, foreign embassies, etc, with exceptional satisfactory legal services in general corporate matters including: M&A, joint ventures, construction, commercial contracts, investment, restructuring, cross border investments, finance and banking, governmental …

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Corporate and M&A in Indonesia

ABNR Counsellors at Law

ABNR Counsellors at Law advises across the full range of M&A work and acts for domestic and multinational corporations, investment and private equity funds, venture capitalists, strategic investors and vulture funds. The firm also has a particularly strong antitrust and competition practice and advises on merger notification and other competition-related issues. Practice head Agus Ahadi Deradjat has an experienced M&A and FDI practice that covers the life sciences, technology, telecoms, e-commerce and automotive sectors. Emir Nurmansyah is also noted and specialises in restructuring and insolvency work, particularly for clients in the shipping, aviation and TMT sectors.

Practice head(s):

Agus Ahadi Deradjat

Other key lawyers:

Emir Nurmansyah; Giffy Pardede

Testimonials

ABNR Counsellors are exceptional advocates. Very intelligent and professional. Always prepared and ready for the next step in a transaction or corporate situation. I especially appreciate their responsiveness, which is fast and timely. It is always a pleasure to work with the firm.’

Giffy Pardede is an accomplished counsellor. There is no issue, no challenge that he has not been able to handle. We are always served well and happy with the results.’

Agus’ team has been tremendously helpful in providing practical advice to us. While the Indonesian legal system is quite complicated to foreign investors in particular because of the language hurdle, Agus has always been able to promptly identify key issues and provide practical solutions to us.’

Agus is an outstanding lawyer with a thorough understanding of businesses. He is pragmatic and understands the needs of in-house legal counsels.’

The ABNR team has the capability to handle complex corporate transactions in the Indonesian market. We use different local firms in Indonesia depending on the type and size of transactions but will reach out to ABNR for the complex transactions that other local firms may not be able to handle well.’

ABNR is rightly rated as one of Indonesia’s top law firms. They combine solid legal knowledge and expertise with a service-minded and responsive client-oriented attitude, fast and accurate delivery of services and pleasant and friendly team members. Fees are reasonable and appropriate to the level of service provided and in conformity with market standards.’

A very seasoned team of lawyers, good combination between senior and young lawyers. Well diverse and balanced team. They are strong in general corporate matters and dispute resolution.’

Agung Ahadi Deradjat responds quickly to acknowledge receipt of any query and provides his legal advice/support in a professional and timely manner.’

‘Agung Ahadi Deradjat is an outstanding lawyer of high integrity, transparency & accountability in terms of professionalism, competence and timely response.’

Key clients

Hormel Foods

SAAB Group

Johnson & Johnson

Novartis

LG International

PT Merck Sharp Dohme Pharma, Tbk.

Amway

Wanda Group

TEVA Phamaceutical

Danone

Uniqlo

Bayer

Petroliam Nasional Berhad (Petronas)

Electrolux

CIMB Group Malaysia

NTT

Cabot Corp

Ramsay Sime Darby Health Care

Bank Artha Graha International

Indonesian State Railways

Assegaf Hamzah & Partners

Assegaf Hamzah & Partners has a strong domestic and cross-border corporate and M&A practice that delivers a full-service offering, from advising on the transaction structure and due diligence to the formation of new entities and regulatory fillings. Co-founding partner Ahmad Fikri Assegaf advises venture capital and private equity investors looking to invest in the Indonesian market. Managing partner Bono Daru Adji is another key individual to note. Key changes to the team include Mita Kartohadiprodjo‘s promotion to partner in 2021; Mita has a strong cross-border M&A practice and acts for both sellers and buyers’ side on complex transactions.

Practice head(s):

Eko Basyuni

Other key lawyers:

Fikri Assegaf; Bono Daru Adji; Mita Kartohadiprodjo; Carol Lim; Valerie Ngoi Ming Hui

Testimonials

The team is very well-rounded in looking at the commercial aspect of a transaction and can come out with an innovative structure.’

Mita Kartohadiprodjo is a very effective communicator and could lead negotiation very well.’

The team is really excellent and supportive in our project. The lawyers can represent us in negotiation to ensure that our position is secure, and can also comes up with out of the box ideas to help us deliver our needs.’

Bono Daru Adji and Valerie Ngoi Ming Hui are really excellent in knowledge, drafting, advising and also negotiating.’

Key clients

AICE Group

ANSTEEL Group Corporation

China Communications Construction Group Co., Ltd.

China Development Bank

China Fortune Land Development Co. Ltd.

China Oilfield Service Ltd.

PT Aplikasi Karya Anak Bangsa (Gojek)

PT Bank BCA Syariah

PT Bank Central Asia Tbk

PT DCI Indonesia

PT DigiAsia Bios

PT Garuda Indonesia (Persero) Tbk.

PT Kalbe Farma, Tbk.

PT Mandiri Sekuritas

PT Mitra Pinasthika Mustika Tbk.

PT Nirvana Wastu Pratama

PT Provident Agro Tbk.

PT Recapital Advisors

PT Salam Pacific Indonesia Lines

PT XL Axiata Tbk

Siam Cement Group

Work highlights

  • Acted as Indonesian legal counsel to Gojek in the merger between Gojek, Indonesia’s first decacorn, and PT Tokopedia to form GoTo Group, which is poised to become the largest technology group in Indonesia.
  • Assisted BCA with its acquisition of PT Bank Rabobank International Indonesia, a subsidiary of Dutch multinational bank, Rabobank for a $44.6m consideration.
  • Acted for NWP Retail in an asset purchase of five shopping malls located in five different regions owned by entities affiliated with Indonesia’s Lippo Group.

Ginting & Reksodiputro in association with Allen & Overy

Ginting & Reksodiputro in association with Allen & Overy handles a variety of mandates including takeovers, private M&A, equity capital markets, joint ventures, disposals and corporate restructurings, general commercial, antitrust and corporate governance. The firm’s international expertise allows the team to seamlessly transition between English, U.S., Singaporean and Indonesian law when advising clients on multi-jurisdictional deals. Harun Reksodiputro specialises in foreign investment into Indonesia with a particular focus on the financial services, TMT, fintech and retail markets. Sugianto Osman has a similar range of expertise and also advises clients in the private equity and natural resources space. The team lost Dion Alfadya in 2021.

Practice head(s):

Harun Reksodipturo;  Sugianto Osman

Testimonials

Sugianto is knowledgeable with good commercial sense and able to give sound advice to move the transaction forward.’

The team manages to achieve the client expectation and is reliable in supporting the M&A Process.’

Harun supported the M&A in a timely manner and his insight on the process is very helpful in completing the process.’

Key clients

Astra Digital, a subsidiary of PT Astra International Tbk

General Atlantic Service Company

Falcon House Partners

Tokopedia

Mitsui

PT Aplikasi Karya Anak Bangsa (Gojek)

Indonesia Investment Authority (INA)

PT Akseleran Keuangan Inklusif Indonesia (Akseleran)

Openspace Ventures

PT Polinasi Iddea Investama

PT Anggraini Mulia (Lippo Group)

Work highlights

  • Advised Tokopedia on its merger with Gojek, the Indonesian based ride-hailing and payments giant.
  • Advised General Atlantic Service Company on its proposed investment in PT Kalbe Farma Tbk.
  • Advised Mitsui on its $1bn investment by way of convertible bonds in an strategic alliance with Indonesia company CT Corp Group.

Hadiputranto, Hadinoto & Partners, a member firm of Baker McKenzie

Hadiputranto, Hadinoto & Partners, a member firm of Baker McKenzie delivers ‘comprehensive solutions‘ and offers a strong ‘combination of local knowledge and expertise‘. The firm has a full service corporate and M&A offering which sees the team regularly instructed on acquisitions, divestitures, financings, joint ventures and reorganisations. Senior partner Mita Djajadiredja has extensive M&A and private equity experience, with a particular focus on e-commerce, insurance, logistics, manufacturing and real estate sectors. Gerrit Jan Kleute is praised for his ‘local and international M&A expertise‘. Daniel Pardede  has a strong cross-border practice. Capital markets expert Iqbal Darmawan and finance specialist Erwandi Hendarta are other key points of contact.

Practice head(s):

Mita Djajadiredja; Iqbal Darmawan; Erwandi Hendarta

Other key lawyers:

Daniel Pardede; Gerrit Jan Kleute

Testimonials

Baker McKenzie M&A team understand the specific industry issues and are able to deliver comprehensive solutions beyond what clients expect due to their collaboration with other practice groups.’

Their strengths are a combination of local knowledge and expertise, in addition to having experience on international transaction structuring and execution. The M&A bench is wide and deep at the same time. When it comes to M&A in Indonesia, we don’t see there being any serious competitor to HHP.’

Good domain knowledge about M&A in Indonesia and cross-border transactions.’

We worked with Gerrit Jan Kleute and his team on a number of larger and smaller transactions. Gerrit has the perfect mix on local and international M&A expertise. You may find the one or other local M&A expert but they usually lack the international picture.’

One of the best in Indonesia, their strength is their team, where they maintain high-quality standard across their team.’

Gerrit stands out for his sound advice and understanding on the pitfall on what we are trying to do, very hands-on, and very quick in catering for clients’ need.’

Understanding of commercial side and practical approach with government officials.’

Key clients

Bank of Tokyo Mitsubishi UFJ Ltd.

HSBC

Standard Chartered

PT Bank Rakyat Indonesia (Persero)

AIA Group

BRI Life

MSIG

Prudential America USA

Zurich Life

Prudential (UK)

Allianz

Cigna Life

Jardines JLT

Guy Carpenter

Marsh

Jardine Group

PT Rajawali Corpora

PT Astra International Tbk

FKS Group

OUE Limited

Ancora Capital

KV Asia Capital

Northstar Advisors Pte. Ltd.

Grab

Work highlights

  • Acted as the transaction counsel for the merger of BRIS, BSM and BNIS, subsidiaries of the three largest state-owned banks PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Mandiri (Persero) Tbk, and PT Bank Negara Indonesia (Persero) Tbk.
  • Acted as lead counsel for PT Indofood CBP Sukses Makmur Tbk’s on its strategic acquisition of Pinehill Company Limited, for close to $3bn.
  • Advised Grab on its investment into electronic payment company Linkaja.

Hiswara Bunjamin & Tandjung in association with Herbert Smith Fr

Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills has a strong cross-border M&A offering with a broad range of sector expertise that spans the financial services, telecoms, digital economy and fintech, consumer, manufacturing, energy and infrastructure sectors. David Dawborn has an established presence in the financial services and energy sectors, while founding partner Iril Hiswara focuses on the consumer and real estate sectors. Vik Tang and Cellia Cognard are ‘go-to names‘ for public and private M&A, private equity and joint venture transactions. Sakurayuki's recent mandates include direct investments, infrastructure investments, and advising on the competition aspects of M&A transactions. Jeanne Elisabeth Donauw departed in November 2020.

Practice head(s):

Iril Hiswara; Santi Darmawan; David Dawborn; Vik Tang; Sakurayuki

Other key lawyers:

Cellia Cognard 

Testimonials

‘Strong firm for series B fintech fundraising work, particularly representing the issuer side. Displayed experience in drafting and negotiating various transaction documents between issuer and strategic investors.’

‘Vik Tang and Cellia Cognard are go to names for fintech and preferred shares equity financing work.’

Key clients

Alibaba

Ant Financial

Carlyle

Indosat

KB Kookmin Bank

LinkAja

Northstar

Sinarmas Group

Sumitomo Corporation

The Kansai Electric Power Co., Inc.

Tiger Global

Willis Towers Watson

Work highlights

  • Acted for Kookmin Bank in its acquisition of a 67% stake in Bank Bukopin, an Indonesian listed bank.
  • Advised Dian Swastatika Sentosa, Tbk (DSS) on divestment of its 75% interest in three Indonesian power plants to China Datang Corp, and PT Inti Bangun Sejahtera Tbk (IBS) on its sale of 3,000 telecom towers to Tower Bersama group.
  • Acted for LinkAja, the state-backed digital payment platform, onthe strategic investments by Grab and Gojek.

SSEK Legal Consultants

SSEK Legal Consultants has an experienced corporate practice that regularly advises international investors and private equity funds, particularly with M&A transactions involving private equity purchasers or sellers to procure warranty and indemnity insurance. The team also has a strong regulatory advisory practice. Ira Eddymurthy and Michael Carl have extensive experience in the M&A and FDI space; Eddymurthy focuses on the insurance and healthcare sectors, and Carl specialises in the natural resources and tech space. Other key individuals to note include Fahrul Yusuf and Dewi Savitri Reni, both of whom have a strong financial services and technology-focused M&A practice.

Practice head(s):

Ira Eddymurthy; Rusmaini Lenggogeni; Fahrul Yusuf; Michael Carl

Other key lawyers:

Dewi Savitri Reni; Michael Twomey

Testimonials

‘SSEK has a really responsive and thorough corporate and M&A team. Their availability is exceptional and they deliver commercial advice, without over-servicing.’

Key clients

PepsiCo, Inc.

Princeton Digital Group (PDG)

Nissan Motor Co., Ltd.

SoftBank Vision Fund

Pigments Spain, S.L.

Grab Inc.

General Electric

Mastercard

Pertamina

OVO

Work highlights

  • Advised PepsiCo, Inc. on the sale of its stake in and termination of its joint venture in Indonesia with PT Indofood CBP Sukses Makmur (ICBP).
  • Acted for Singapore-based Princeton Digital Group (PDG) in the sale of a strategic stake in its data centers business, including data centers in Indonesia.
  • Advised Binance on the acquisition of the Indonesian crypto asset exchange platform PT Toko Crypto Indonesia Berkat.

Makarim & Taira S.

Makarim & Taira S. has a well-established presence in the corporate and M&A space and offer a full-service practice that covers share and asset acquisitions (for buyers or sellers), mergers, joint ventures and corporate restructuring. Rahayu Ningsih Hoed focuses on the energy sector, as does Hilton King who also advises clients in the minerals and infrastructure space. Other key individuals to note include managing partner Lia Alizia , Vincent Ariesta Lie and Maria Sagrado.

Practice head(s):

Rahayu Ningsih Hoed; Hilton King

Other key lawyers:

Lia Alizia; Vincent Ariesta Lie; Maria Sagrado; Jonathan Toni Tjenggoro

Testimonials

‘Swift and clear response.’

‘Their bilingual proficiency, responsiveness and accessibility.’

‘Lia Alizia is always responsive to our inquiries.’

‘Local know-how; pragmatic advice.’

The lawyers are experts in the area. We feel comfortable working with them, they listen to what we say and need, and respond in time.’

The team is very responsive, professional and provides practical legal solutions.’

‘The individual partners and associates provide extremely quick responses and turnarounds. They give highly practical advice and solutions. Lia Alizia, Hilton King and senior associate Jonathan Toni Tjenggoro provide exceptional service.’

Key clients

Kimberly-Clark Corporation

Ferro Corporation

Zarubezhneft JSC

AEON Delight Co., Ltd. (part of AEON Group)

PT TBS Energi Utama, Tbk

Tuan Sing Holdings Limited

Visa Inc.

Work highlights

  • Advised Kimberly Clark Corporation on its $1.2bn acquisition of leading Indonesian personal care brand PT Softex.
  • Acting for Ferro Corporation in the $460m sale of two principal tile coating business subsidiaries of Ferro Corporation in Indonesia: PT Ferro Mas Dinamika and PT Ferro Materials Utama.
  • Acting for PT TBS Energi Utama, Tbk in relation to the $1m acquisition of an independent power producer company in Indonesia which will develop a hybrid wind power project in Oelbubuk.

Makes & Partners

Makes & Partners showcases a ‘broad range of knowledge and an international perspective‘ when assisting clients with big-ticket transactions; the team has significant experience handling asset disposals, foreign investment and acquisitions for both the buy- and sell-side. Fransisca S.H.  is a key point of contact in the corporate, banking and finance and real estate team. Bernardus Billy who offers a ‘wealth of international transactional experience‘, has notable expertise in the TMT sector.

Practice head(s):

Yozua Makes; Bernardus Billy; Fransisca; Iwan Setiawan

Testimonials

‘Our go to firm in Indonesia, with a broad range of knowledge and an international perspective. Particularly good with dealing with overseas investments in Indonesia.’

‘Bernardus Billy is the partner we work with. Despite his relatively young age, his wealth of international transactional experience allows him to stand toe-to-toe with other counterparty lawyers from international firms on transactions.’

The firm knows the needs of the client. They have strong experience in the M&A space. They provide clients with not only the acquisition transaction but also a better understanding of the concept of the transaction documents.’

‘The firm’s expertise in the capital market is a benefit to the M&A transactions when capital market aspects are involved.’

Key clients

PT Pembangunan Jaya

PT Mandiri Cipta Gemilang

PT Jakarta Propertindo

PT Aldmic Technology Indonesia

PT Surya Semesta Internusa Tbk.

PT Horizon Internusa Persada

PT Tiga Pilar Sejahtera Food Tbk.

Kholberg, Kravis and Roberts Group

Temasek Capital Management Pte. Ltd

De Heus Indonesia – PT Universal Agri Bisnisindo

PT Agung Podomoro Land Tbk.

PT Lippo Karawaci Tbk.

PT Bundamedik

PT Pembangunan Jaya

PT Surya Semesta Internusa Tbk.

Work highlights

  • Advised MCG on the sale of Lippo Mall Puri, a subsidiary of PT Lippo Karawaci Tbk, to an Indonesian subsidiary of Lippo Malls Indonesia Retail (LMIR) Trust.
  • Advised PT Buana Makmur Indah on the sale of two tranches of land and shares.
  • Advised Kholberg, Kravis and Roberts (“KKR”) Group on the sale and purchase of PT Nippon Indosari Corpindo Tbk’s shares.

Soemadipradja & Taher

Soemadipradja & Taher has a broad offering that spans M&A, regulatory, foreign investment, private equity investment, antitrust and competition. Founding partner Rahmat Soemadipradja is well-regarded in the corporate space and has experience advising clients in the energy, natural resources, infrastructure and manufacturing sectors. Retno Muljosantoso also has extensive corporate experience and assists international and domestic clients with establishing representative offices, joint ventures and M&A activities. Emalia Achmadi is also noted and showcases in-depth knowledge of regulatory and compliance in the financial services sector. The firm is associated with Singaporean firm Allen & Gledhill LLP which makes it well placed to assist clients with their M&A transactions in the region.

Practice head(s):

Rahmat Soemadipradja; Retno Muljosantoso; Emalia Achmadi; Denia Isetianti Permata; Oene J. Marseille; Robert Reid

Key clients

Prime Paper Co.

LMIRT Management LTD.

Composite Capital Management (HK) Ltd.

K.R.S. Corporation

B Capital Group

Aviva Plc.

Wilbur Ellis Holdings, Inc.

Allianz X

Azelis S.A.

PT Lemonilo Indonesia Sehat

Susquehanna International Group and SCI Investments

Work highlights

  • Advised Prime Paper Co. on Kimberly-Clark Corporation’s acquisition of PT Softex Indonesia valued at $1.2bn.
  • Assisted LMIRT Management LTD. with a loan facility to finance the acquisition of a mall in Jakarta valued at IDR 3.5 trillion.
  • Advised Composite Capital Management (HK) Ltd. on its proposed Series D Investment in M-League Pte Ltd. valued at $95m.

Widyawan & Partners

Widyawan & Partners has a ‘very strong corporate M&A practice‘ with solid domestic and cross-border capabilities. An increasing area of focus for the practice has been digital infrastructure which the team has extensive experience advising clients on digital infrastructure assets, such as telecoms towers, fibre and data centres. Yolanda Hutapea co-heads the corporate practice and advises clients in the financial services, retail and TMT sectors. Joint venture and M&A specialist Karen Phang heads the practice alongside Hutapea and is ‘a very reliable legal advisor‘. David Holme is another name to note who focuses on inbound investments in the energy, infrastructure and financial services sectors.

Practice head(s):

Yolanda Hutapea; Karen Phang

Other key lawyers:

David Holme; Tengku Almira Adlinisa

Testimonials

‘Very strong corporate M&A practice – with good support across all levels (partners and associates). ’

Technical competency, with the ability to give practical and commercial advice. Responsive and proactive from a client care perspective.’

‘Associate Tengku Almira Adlinisa has been instrumental in getting one of our recent deals across the line. She has good commercial sense and a strong work ethic – it’s been great working with her.’

Karen Phang provided very solid support during one of our recent deals and was always very responsive. A very reliable legal advisor – would strongly recommend.’

‘Widyawan & Partners is part of Linklaters and has a highly experienced and capable Singapore-lawyer who is leading the corporate practice.’

‘Karen Phang has spent many years in Indonesia and can read and draft in Indonesian. She understands Indonesian laws and can give solutions.’

Yolanda Hutapea has expertise in various areas, she has good client care skills and is very responsive.’

Key clients

EdgePoint Infrastructure

PT Nestle Indonesia

FWD Group

DP World

Women’s World Banking

L Catterton

Naver Corporation

Cainiao Smart Logistics Network

MDI Ventures

UOB Venture

Work highlights

  • Advised EdgePoint Infrastructure on its $750m sale-and-leaseback acquisition of more than 4,200 telecommunications towers from PT Indosat Tbk (Indosat Ooredoo).
  • Advised FWD Group on its investment of a significant minority stake in PT Asuransi BRI Life.
  • Advised Naver Corporation on its $150m investment into Emtek, one of the largest media company in Indonesia, through a private placement process.

Hanafiah Ponggawa & Partners

Hanafiah Ponggawa & Partners has a broad corporate and M&A offering with an integrated regulatory and compliance practice, covering a wide range of sectors including infrastructure, manufacturing, banking, technology and mining. Hendra Ong leads the work and has a strong background in the natural resources and infrastructure sectors. Managing partner Constant Ponggawa and corporate specialist Giovanni Mofsol Muhammad are also recommended.

Practice head(s):

Constant M. Ponggawa; Giovanni Mofsol Muhammad

Other key lawyers:

Hendra Ong; Fabiola Hutagalung

Testimonials

Denton HPRP team has good knowledge of Indonesia Law and Regulation.’

Hendra Ong knows exactly what the client needs.’

Key clients

PT MRT Jakarta (Perseroda)

PT Kereta Api Indonesia (Persero)

Oceanstar Marien & Offshore Investment Pte. Ltd and PT Timas Oceanstar

Badan Penyelenggaran Transportasi Jabodetabek (BPTJ)

Carsome Sdn Bhd

PT Golden Land Gemilang (subsidiary of Golden Land Berhad)

Kuala Lumpur Kepong Berhad

KL-Kepong Industrial Holdings (subsidiary of Kuala Lumpur Kepong Berhad)

Metso Minerals

PT Pelabuhan Indonesia II / PELINDO

Legend Capital

PT Bahana Pembinaan Usaha Indonesia (Persero)

PT BASF Indonesia/PT BASF Distribution Indonesia

Work highlights

  • Advising PT MRT Jakarta on an agreement with construction companies for the development of Jakarta MRT Phase 2A and in a shareholders agreement for the implementation of a payment integration system for intermodal transportation.
  • Advising Kuala Lumpur Kepong Bhd on a transaction worth $110m and in the share acquisition of an Indonesian oil palm company in South Sumatera.
  • Advised PT BASF Indonesia/PT BASF Distribution Indonesia on its acquisition of BASF Indonesia’s subsidiaries.

Oentoeng Suria & Partners

Oentoeng Suria & Partners‘ core focus is on public takeovers, acquisition financing, regulatory and compliance. The team has strong cross-border capabilities and is particularly active in the transport and manufacturing sectors. Practice head Ratih Nawangsari specialises in M&A, foreign investments, financings and capital market transactions, and foreign legal consultant Frédéric Draps focuses on project development and financing transactions. The team enhanced its corporate offering with the hire of  Dion Alfadya who was previously at Ginting & Reksodiputro in association with Allen & Overy.

Practice head(s):

Ratih Nawangsari

Other key lawyers:

Frédéric Draps; Dion Alfadya

Key clients

The Chugoku Electric Power Co., Inc.

Toll Group

PT Indonesia Asahan Aluminium (Persero)

Petrochemical Industries Company K.S.C

Work highlights

  • Advised the Toll Group on the preparation and establishment of a joint venture arrangement with PT Salam Pacific Indonesia Lines to engage in multimode transportation and freight forwarding business activities.
  • Advised Chiyoda Corporation on its complete divestment of PT Suluh Ardhi Engineering (SAE), an EPC contractor in Indonesia.

Witara Cakra Advocates (WCA) in exclusive association with White & Case LLP Indonesia

Witara Cakra Advocates (WCA) in exclusive association with White & Case LLP Indonesia has a strong corporate offering and advises both Indonesian and international buyers, sellers, advisers and financial intermediaries on a broad range of corporate, private equity and M&A transactions. Practice head Kristo Molina has extensive experience advising clients on M&A transactions including public and private transactions, exits on public markets and FDI. Counsel Rika Rusman is also noted and has experience advising clients in the financial services and infrastructure sectors on corporate acquisitions and joint ventures.

Practice head(s):

Kristo Molina

Other key lawyers:

Rika Rusman

Testimonials

The team has been very helpful and knowledgeable. They are very committed and flexible in working with us through a series of online meetings since most of our dealings have been during the COVID-19 pandemic. It is also evident that they have a good working relationship within their team.’

Kristo Molina and counsel Rika Rusman were very hands-on from the beginning. They were very patient in guiding us through our first M&A dealing and explained aspects of it in a practical manner as well as looking out for our best interest.’

The team has been very flexible during the pandemic in regards to online meetings and other methods of communications.’

Kristo Molina and Rika Rusman are very knowledgeable and are patient in explaining legal aspects of M&A to us.’

Key clients

Bangkok Bank Public Company Limited (Thailand)

CVC Capital Partners

Ooredoo QPSC

Pacific Century Group Holdings (PCG)

PT Avia Avian

PT Diamond Food Indonesia Tbk.

PT Garudafood Putra Putri Jaya Tbk

Puma Energy

International Finance Corporation

Work highlights

  • Advised Ooredoo Group on the merger of PT Indosat, an Indonesian subsidiary of Ooredoo Group, with PT Hutchison 3 Indonesia.
  • Advised Bangkok Bank Plc on the integration of its Indonesian branch business (Bangkok Bank Indonesia) with PT Bank Permata Tbk (Bank Permata), an Indonesian public listed bank.
  • Advised the receivers in the bankruptcy of CG Power System Belgium N.V., a global engineering company on the auction sale of its 95% stake in its subsidiary, PT CG Power Systems Indonesia.

Roosdiono & Partners

Roosdiono & Partners has a growing presence in the Indonesian technology market which it advises a mix of P2P lending platforms, data aggregators and fintech companies. Regional managing partner Hanim Hamzah heads the team which also includes Jade Hwang and Barryl Rolandi.

Practice head(s):

Hanim Hamzah

Other key lawyers:

Barryl Rolandi; Jade Hwang

Key clients

Intundo

DEG

Maybank

Arcadis Asia

iQIYI Inc.

Rich Valley Global Limited (“RVGL”)

Lenovo (Beijing) Limited (“Lenovo”)

Xiaomi Corporation (“Xiaomi”)

Savills (SEA) Pte Ltd

Aneka Jaringan Sdn. Bhd

Alliance Investment Bank Berhad

China Aircraft Leasing Group Holdings Limited (CALC)

Work highlights

    Tjajo & Partners

    Tjajo & Partners advises on a broad range of corporate and M&A work with particularly strong transactional experience that covers shares and assets purchase and acquisitions, mergers, complex restructurings, swaps and split-ups. Founding partner Rambun Tjajo and managing partner Melissa Butarbutar have an active presence in the cross-border M&A space.

    Practice head(s):

    Rambun Tjajo; Melissa Butarbutar

    Other key lawyers:

    Brahmantyo Jatiwidianto

    Testimonials

    The team always tries to deliver the works timely even for any sudden request which requires an immediate response.’

    Associate Brahmantyo Jatiwidianto is very helpful and attentive.’

    Key clients

    PT Pelabuhan Indonesia II

    PT Bank Royal Indonesia

    Tencent Holdings Ltd

    Bomba Group

    Asosiasi Fintech Indonesia / Indonesia Fintech Association (AFTECH)

    PT Semen Indonesia (Persero) Tbk

    Alpha JWC

    PT Waskita Karya Realty

    PT Indika Energy Tbk

    PT Perusahaan Pengelola Aset

    PT Solusi Bangun Indonesia Tbk (Ex Holcim)

    PT Cemindo Gemilang

    PT Danareksa (Persero)

    PT Bahana Pembinaan Usaha Indonesia (BPUI)

    Work highlights

    • Advised the shareholders of PT Bank Royal Indonesia as the sellers in the IDR 1 trillion deal with PT Bank Central Asia Tbk (BCA).
    • Assisted PT Pelabuhan Indonesia II (“Pelindo II”/IPC) with the proposed cooperation arrangement with the Regional Government of Batam to operate Batam’s largest sea-port namely Batu Ampar Port.
    • Assisted Tencent Holdings Ltd with the acquisition of Iflix, a media and entertainment company focused on emerging markets that provides video-on-demand or over-the-top (OTT) services.

    TNB & Partners

    TNB & Partners works in association with Norton Rose Fulbright and advises international clients entering the Indonesian market, particularly in the energy and technology markets. Benny Bernarto is a key individual to note and co-heads the practice with Kresna Panggabean who advises on Indonesian regulatory issues, compliance strategies, and general corporate matters.

    Practice head(s):

    Benny Bernarto; Kresna Panggabean

    Key clients

    Noble Group

    Olam International

    Sandvik Group

    Energizer

    Energy Earth

    Work highlights

    • Advised Energizer Group on its $17m acquisition of an Indonesian battery manufacturing company.
    • Assisted Rawabi Vallianz Offshore Services Company Limited with its loans from Caterpillar Financial Services Asia Pte Ltd and Caterpillar Financial Australia Limited.
    • Acted for Olam International on the sale of its remaining 50% equity stake in Indonesian sugar joint-venture Far East Agri to its joint venture partner Mitr Phol Sugar Corporation.

    UMBRA – Strategic Legal Solutions

    UMBRA – Strategic Legal Solutions' M&A experience spans public mergers, public and private auction sales, hostile transactions and corporate restructurings, and the practice has particular expertise in the technology and telecoms sectors. Managing partner Pramudya Oktavinanda has a broad client base that includes a range of local and international companies, as well as government organisations. Putu Raditya Nugraha regularly advises unicorns and financial institutions on M&A and fintech matters.

    Testimonials

    The team while relatively new as a setup is hungry and always ready to respond to the needs of the client.’

    Key clients

    PT Telkom Indonesia (Persero) Tbk.

    PT Telekomunikasi Seluler

    PT Dayamitra Telekomunikasi

    PT Indo Raya Tenaga

    PT PLN (Persero)

    PT Aneka Tambang Tbk.

    Aivita Biomedical Inc

    Equinix Inc

    PT Shinhan Securities

    PT Kereta Api Indonesia (Persero)

    PT Angkasa Pura 1 (Persero)

    Zoomcar Pte Ltd

    Lotte Group

    Work highlights

    • Advising PT Dayamitra Telekomunikasi (Mitratel) on its Rp10.3 trillion sale & leaseback transaction of 6,050 telecommunication towers of PT Telekomunikasi Selular.
    • Advising PT Telekomunikasi Selular (Telkomsel) on its $450m strategic investment in PT Aplikasi Karya Anak Bangsa (Gojek).
    • Advising PT Metra Digital Investama as the leading investor on the $65.5m Series B investment in Tanihub Pte Ltd (Tanihub), a leading agritech company.

    Adnan Kelana Haryanto & Hermanto (AKHH)

    Adnan Kelana Haryanto & Hermanto (AKHH) has notable expertise in the energy, natural resources and TMT sectors. Founding partner Andy Kelana has extensive experience advising corporate clients in the telecoms and energy sectors. Helena Adnan, also a founding partner, focuses on M&A, capital market transactions, and foreign capital investments.

    Practice head(s):

    Andy Kelana; Helena Adnan

    Other key lawyers:

    Erline Herrmann

    Testimonials

    Erline Herrmann is one of the rare few Indonesian lawyers to deliver international standard work products. Her manner of delivery is concise and to the point and promptly.’

    Erline Hermann is commercially minded and brings international experience into her advice and approach.’

    Key clients

    Tokyo Electric Power Company Holdings, Incorporated

    TEPCO Renewable Power, Incorporated

    Dagang Net Technologies Sdn Bhd

    PT Dagang Samudera Hutama

    PT Dnex Telco Indonesia

    PT Dagang Net Indonesia

    Sri Trang Gloves (Thailand) Public Company Limited

    Sri Trang Agro-Industry Public Company Limited

    PT Star Rubber

    PT Sri Trang Lingga Indonesia

    Puncak Selasih Sdn Bhd

    SGL Plantations Holding Limited

    PT Abdi Borneo Plantations

    PT Tunas Borneo Plantations

    PT Inti Agro Makmur

    PT Hamparan Sinar Nusantara

    PT Wahana Auto Ekamarga

    Nova Motors Holdings Pte Ltd

    Wearnes Automotive & Equipment Pte Ltd

    PT Wearnes Premium Era

    PT Mega Sentra Mekanikal

    PT American Express Indonesia

    Energy Development Corporation

    KS Orka Renewables Pte Ltd

    PT OTP Geothermal Services Indonesia

    Sarawak Energy Berhad

    PT Merdeka Copper and Gold Tbk

    Provident Capital

    PT Saratoga Investama

    PT Tower Bersama Infrastructure Tbk

    Hoegh LNG

    PT Chevron Oil Products Indonesia

    PT Kayan Hydropower Nusantara

    RURIC AB

    KVC Electrical Supplies Indonesia Sdn Bhd

    Schaefer Kalk (Malaysia) Sdn. Bhd.

    PT Dua Kuda Indonesia

    PT Aura Esport Indonesia

    PT Pertamina Power Indonesia

    PT G4S Cash Services

    Work highlights

    • Advised Iron Mountain Hong Kong Limited on its $9m acquisition of an Indonesian public listed company.

    Bagus Enrico & Partners (BE Partners)

    The corporate team at Bagus Enrico & Partners (BE Partners) is jointly led by Bagus Nur Buwono and Enrico Iskandar. The team frequently assists foreign and domestic ventures capital firms with their financing activities into Indonesian technology-based companies and start-ups, and acts for a mix of regional and global clients on acquisition and restructuring transactions.

    Practice head(s):

    Bagus Nur Buwono; Enrico Iskandar

    Testimonials

    ‘Enrico Iskandar is a valued support and safe pair of hands.’

    Their solid knowledge of the law and government requirements, resourceful, quick response and competitive fees are the key strengths that provide great assistance to us from the incorporation of the company to compliance with requirements from various government authorities/agencies.’

    Work highlights

      Hogan Lovells in association with Dewi Negara Fachri & Partners

      Hogan Lovells in association with Dewi Negara Fachri & Partners handles a variety of M&A transactional work, private equity and venture capital investments, joint ventures and regulatory advisory work for its broad Southeast Asian client base. The practice is led by energy and resources specialist Mochamad Kasmali.

      Practice head(s):

      Mochamad Kasmali

      Other key lawyers:

      Karina Antonio

      Key clients

      Education Index Management Asia Pacific Pte Ltd

      Work highlights

      • Advised Education Index Management on a global acquisition which involved handling a transfer of leased land in Indonesia, corporate restructuring and loan agreement.

      Walalangi & Partners in association with Nishimura & Asahi

      Walalangi & Partners in association with Nishimura & Asahi has a strong Japan-based clientele which the team advises on entering the Indonesian markets. Managing partner Luky I. Walalangi has significant experience advising clients on investments, acquisitions and corporate restructuring in the real estate and financial services space.

      Practice head(s):

      Luky I. Walalangi

      Key clients

      Mitsui & Co., Ltd.

      Nippon Steel Corporation

      Mitsubishi UFJ Lease & Finance

      Mitsubishi Corporation

      Marubeni Corporation

      Orico Corporation

      KDDI Corporation

      Tokyo Gas Asia Pte. Ltd and Tokyo Gas Co., Ltd.

      Mizuho Bank, Ltd.

      Tokyo Tatemono Co Ltd and Tokyo Tatemono Asia Pte Ltd.

      DeClout Pte. Ltd.

      PT Dhost Telekomunikasi Nusantara

      TIS INC.

      Showa Leasing

      Toyota Tsusho Corporation

      PT Diamond Development Indonesia

      SMBC Nikko Securities Inc.

      PT TTLR (Indonesian subsidiary of Toyota Tsusho Corporation)

      PT TREC (Indonesian subsidiary of Toyota Tsusho Corporation)

      GS Yuasa Corporation

      Kobelco Group

      Saint-Gobain Indonesian subsidiaries

      PT Resona Indonesia Finance

      FamilyMart Co., Ltd.

      Work highlights

      • Advised Mitbana Pte., Ltd. on smart and sustainable Transit-Oriented Developments (TODs) in BSD City.
      • Advised Tokyo Gas Asia Pte., Ltd. on the acquisition of PT Super Energy Tbk, PT Energy Mina Abadi, PT Gasuma Federal Indonesia and PT Bahtera Abadi Gas.
      • Advised Mitsubishi UFJ Lease & Finance Company Limited on its Indonesian merger with Hitachi Capital Corporation (HC).