As one of South East Asia's largest economies, Indonesia has progressed to be one of the emerging market economies of the world today.
Our outreach in Indonesia has deepened through our partnership with Makes & Partners, a member of WPG. Together, we offer a full range of services to clients including transactional, advisory and dispute resolution capabilities. Our collaboration includes working on a range of corporate/M&A transactions, both inbound and outbound, in Indonesia and the region. Working seamlessly on various matters, we have been able to deliver commercially focused advice and negotiation skills that drive successful outcomes for clients.
With a full-service offering, our clients are able to benefit from a team of highly experienced dispute resolution lawyers, including a number of specialists who are recognised leaders in their fields, who are committed to protecting their clients' interests throughout the region.
Makes & Partners
Makes & Partners is a law firm respected in the investment community for its strong mergers and acquisitions, capital markets, foreign investments, banking and restructuring and insolvency work. As a trendsetter, the Firm has achieved a number of "firsts" in Indonesia, having advised on the first initial public offering on an Indonesian real estate investment trust on the Singapore Exchange, the first privatisation of an Indonesian state-owned company, the first voluntary tender offer and the first non-cash settlement rights issue, amongst others. The Firm has also been involved in various high-profile litigation cases as strategists, including representing the Indonesian Bank Restructuring Agency in the first anti-competition examination of the Agency’s sale of assets.
Our Collaborative Work
Some significant matters Makes & Partners and WongPartnership have jointly worked on include having acted for the following:
- Two Indonesian companies in two ICC arbitrations against a subsidiary of a Hong Kong public-listed company and a joint-venture company incorporated in the Republic of Indonesia. The disputes relate to the breach of a Land Lease Agreement and a Shareholders' Agreement to develop, construct, own, manage and operate an oil storage and oil blending complex in the Riau Islands in Indonesia; involving claims of over US$466 million.
- One of the world's largest private equity firms in relation to its investment into an Indonesian public-listed company (the "Company") in the consumer goods sector, in an SIAC arbitration against the principal of the Company with claims in excess of US$45 million. The Company and its subsidiaries are currently also undergoing restructuring proceedings in Indonesia which Makes & Partners is advising the client on.
- KKR Asia Limited in connection with the proposed investment by Demeter Indo Investment Pte. Ltd., an affiliate of KKR Asian Fund III, in its acquisition of an approximate 12.64% stake in PT Nippon Indosari Corpindo Tbk., Indonesia's leading mass market bread company, from Bonlight Investments Limited.
- PT Bank Danamon Indonesia Tbk. ("PT Bank Danamon") as Singapore counsel in Mitsubishi UFJ Financial Group's acquisition of a 73.8% stake in Indonesia's fifth most profitable bank, PT Bank Danamon, from Asia Financial (Indonesia) Pte Ltd. and other affiliated entities.