Law firm Berwin Leighton Paisner (BLP) has advised energy and coal mining giant PT Bumi Resources (Bumi) on the US$2.07bn sale of its 75% majority stake in PT Bumi Resources Minerals Tbk (BRM) to Vallar plc. Bumi is Asia’s fastest growing coal company and is listed on the Jakarta Stock Exchange. BRM is a subsidiary of Bumi with a portfolio of six mining assets in Indonesia and Africa while Vallar is a London-listed investment vehicle set up by financier Nathaniel Rothschild.
This significant transaction straddled three jurisdictions including Singapore, Indonesia and England & Wales and demonstrates BLP’s growing experience in high-end cross-border M&A transactions. The team’s commitment to supporting clients within the mining sector is also supported by the firm’s recent hires of mining experts Alistair Duffield (Singapore managing partner) and Alexander Keepin (corporate finance partner).
BLP fielded a cross-practice team to advise Bumi led by Alistair Duffield. He was supported by a team in Singapore including associate Aaron Jones and (Indonesian qualified) associate Erline Herrmann. Corporate finance partner Benjamin Lee led the team in London, assisted by associate director Richard Stewart. Rambun Tjajo of Hadiputranto, Hadinoto & Partners acted as Bumi’s Indonesian counsel.
Alistair Duffield said “Bumi is a new client for BLP and we are delighted to have advised them on such an exciting deal at the start of this relationship. The teams in both London and Singapore worked seamlessly around the clock to complete this complex transaction for our client. We look forward to building the relationship with Bumi further.”
Ken Farrell, CEO at Bumi said “We have worked with Alistair on many transactions since 2003 and he never fails to deliver. This is our first major collaboration since his move to BLP and we are delighted at the diligence and responsiveness of the joint Singapore-London team. We look forward to future collaborations.”
Freshfields Bruckhaus Deringer and Soemadipradja & Taher advised Vallar.
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