Experience Highlight

• Assisted in the establishment of InJourney Airports, formed through the merger of Indonesia’s two largest airport operators, PT Angkasa Pura I and PT Angkasa Pura Indonesia (previously known as PT Angkasa Pura II). Following the merger, InJourney Airports becomes the fifth-largest airport operator in the world, managing 37 airports under a unified service system.
• Assisted SCG Packaging Public Company Limited (SCGP) in the additional investment of 44.48% share in PT Fajar Surya Wisesa Tbk., a leading packaging paper manufacturer in Indonesia. Upon completion, SCGP's shareholding in Fajar will increase from 55.24% to 99.72% of the total issued and paid-up shares, with the remaining 0.28% share held by the public.
• Acted as Indonesian counsel for EQT Private Capital Asia, a globally leading private equity house, in its acquisition of PropertyGuru Group Limited ("PGRU") in an all-cash deal, valuing the Singapore-based online real estate platform at approximately USD1.1 billion. Following the acquisition, PGRU has been delisted from the New York Stock Exchange on 13 December 2024 and is now operating as a private company.
• Assisted a multinational express delivery company in their corporate restructuring which resulting a merger of 26 Indonesian companies.
• Assisted PT ABC Kogen Dairy in executing an internal restructuring of its group companies which followed by a strategic investment by and partnership with Growtheum Capital Partners through two tranches transaction of issuance and subscription of new shares.
• Advised PT ABM Investama Tbk on its USD420 million acquisition of a 30% stake in PT Golden Energy Mines Tbk, including structuring, financing, and consent solicitation under a tight deadline.
• Assisted SCG Packaging Public Company Limited in the 75% share acquisition of Intan Group, a leading producer of corrugated containers in Indonesia, with a customer base of companies in the food and beverages and consumer goods industries. This transaction expands on the entire range of production, supply chain and packaging development from upstream to downstream in response to an expanding ASEAN market.
• Advised PT MD Graha Utama on the sale of its shares in PT MD Pictures Tbk. to Tencent Holdings, a Chinese internet tech giant, facilitating Tencent’s entry as a minority shareholder in one of Indonesia’s leading film production companies.
• Represented ITOCHU Techno-Solutions Corporation (CTC), a Japanese multinational IT services company, in its acquisition of 70% shares in each of PT Nusantara Compnet Integrator and PT Pro Sistimatika Automasi.
• Represented General Atlantic, a leading global growth equity firm, and GGV Capital, a preeminent global venture capital firm, led a USD 150 million Series C funding of Ruangguru, an online education platform in Indonesia.
• Represented global private equity firm Warburg Pincus in its investment in Indonesian app-based transportation provider Go-Jek’s third fund-raising round. This raised a total of USD 556.5 million, resulting in Go-Jek being valued at USD 1.3 billion and making it one of the few unicorns in Southeast Asia. This marked the largest private equity deal involving a start-up to have been completed in Indonesia. Our work covered legal due diligence, reviewing the share subscription and shareholders’ agreements, and reviewing the compatibility of the shareholders’ agreements with Go-Jek’s constituent documents.