Tag: indonesia
Written by Editor on 03 April 2014.
♦ Recent Deals ♦ Indonesia
Bae, Kim & Lee LLC (“bkl”) advised Hana Financial Group (“HFG”) with respect to the merger of its subsidiaries in Indonesia. The merger of PT Bank Hana and PT Bank KEB Indonesia to form PT Bank KEB Hana, which was successfully completed on March 10, was done to comply with local regulatory requirements and promote synergies between the two banks. PT Bank KEB Indonesia, which became part of the Hana Financial Group upon HFG’s acquisition of Korea Exchange Bank in 2012, has been assisting Korean companies engaging in business in Indonesia since its establishment in 1990. PT Bank Hana, formed through the acquisition of an Indonesian bank in 2007, has established itself as an important player in the local retail banking business, serving the needs of blue chip corporations and individual clients in Indonesia. PT Bank KEB Hana will operate a network of approximately 40 branches across Indonesia, and as of the completion of the merger, it has total assets of approximately IDR 14.6 trillion (KRW 1.259 trillion) with equity capital of IDR 2.7 trillion (KRW 235 billion). bkl advised HFG with respect to various aspects of the transaction ranging from transactional to regulatory matters, and worked closely with and managed local counsel in Indonesia. Ali Budiardjo, Nugroho, Reksodiputro advised HFG regarding Indonesian law matters. The bkl team was led by partners Sky Yang and Seunghwa Hwang of the Securities & Finance practice group, and included associate Yoonhyoung Jeong also from the Securities & Finance group, as well as foreign legal advisors Steve Kim and Soobin Kim from bkl’s Corporate practice group.
Written by John on 18 November 2013.
♦ Breaking BigLaw News ♦ Indonesia, Jakarta
Squire Sanders and Melli Darsa & Co. (MDC), a leading law firm in Indonesia, are pleased to announce that they have agreed to a formal strategic alliance. Under the agreement, the firms will share a joint platform for business development and the marketing of legal services in Indonesia and international markets, and work closely together for the mutual benefit of a wide range of international and domestic clients. Under the title “Melli Darsa & Co. in strategic alliance with Squire Sanders,” clients will be able to access specialist local expertise, particularly in M&A, corporate finance and banking, project finance, capital markets and securities, anti-competition, litigation and commercial law, together with Squire Sanders’ specialist knowledge across multiple jurisdictions. James J. Maiwurm, CEO and Chair of Squire Sanders, said: "This alliance is a logical next step for the firm as we seek to support our clients who do business in Indonesia and across the Asia Pacific region. We are seeing increasing investment in Indonesia from countries such as China, Japan and Korea, and with our presence in all of those locations, and our desire to offer extensive, integrated regional coverage, it was clear that Indonesia was a missing link.” Ignatius Hwang, managing partner of Squire Sanders’ Singapore office, commented: “We launched our office in Singapore last year with the intention that it would provide a gateway to other rapidly growing economies in Southeast Asia, particularly Indonesia. As our practice has grown, we have seen an increasing requirement from our clients for local law support on Indonesian matters, particularly in industries where we are strong, such as energy and natural resources and infrastructure. The team at Melli Darsa is renowned for its work, and we are excited by the new client and broader practice area opportunities our combined experience will unlock.” Squire Sanders has extensive experience in Indonesia advising on inbound and outbound matters, particularly in corporate finance, banking and dispute resolution. Established in 2002, Melli Darsa & Co. is a mid-size firm by Indonesian standards with 33 qualified lawyers having expertise in capital markets and securities, M&A, corporate finance and banking, project finance, anti-competition, commercial law and litigation. Considered by Asian Legal Business (July 2012) as one of the most powerful and influential female lawyers in Asia and “an icon in Indonesia,” Ms. Melli Darsa, the firm’s founder and managing partner, holds a law degree from the University of Indonesia and a Master of Law degree from Harvard Law School. She has practiced as a lawyer in Indonesia since 1990 and is also admitted to practice in the State of New York, US. Ms. Melli Darsa said: “We are operating in a dynamic economy where our clients are increasingly looking to establish their businesses in international markets. Squire Sanders’ impressive global presence and depth of experience in countries where our clients wish to do business is compelling, and its strength in infrastructure and natural resources were key to our decision to enter into an alliance with the firm. We look forward to working together to offer clients the expanded capabilities of a full service global law firm and to enhancing our impact on both the Indonesian and regional legal market. We are optimistic and hopeful that with our common vision, the relationship will prove highly mutually beneficial to both and deepen over time.”
Written by John on 05 November 2013.
♦ Recent Deals ♦ Indonesia, Jakarta, Singapore
Baker & McKenzie International’s member firms in Indonesia, Hadiputranto, Hadinoto & Partners (“HHP”) and Singapore, Baker & McKenzie.Wong & Leow, acted as counsel to Indonesia conglomerate Rajawali Group in relation to the en-bloc sale of a 47-storey international Grade-A office tower to an affiliate of Government of Singapore Investment Corporation ("GIC"). The Firm advised Rajawali Group from the early procurement stage, to competitive dialogue with bidders, and ultimately, to negotiating and finalizing the contract with GIC. The subject office tower will comprise part of a mixed-use development project to be developed in the heart of the Jakarta Central Business District in Indonesia. The development will also include a luxury six-star St Regis hotel and a retail podium for specialist food and beverage outlets. The office tower, one of the few international Grade-A buildings in Jakarta, is poised to become the premium address for multi-national corporations, local conglomerates and financial institutions. Construction of the development is underway and is expected to be completed by end of 2015. This transaction was particularly challenging and innovative, as the conditional sale and purchase agreement had to be uniquely crafted for the parties, both being sophisticated investors. This included terms which allowed parties to satisfy their respective risk management and technical requirements, whilst incorporating complicated price adjustment mechanisms. As this is also the first forward en-bloc sale of a commercial building in Jakarta, this deal now stands at the forefront of the Indonesia property market as the benchmark for future en-bloc sales to follow. The transaction demonstrates Baker & McKenzie’s ability to tap on the exceptional legal and commercial knowledge across the Firm’s network of offices and member firms to provide both local and cross-border advice to clients across the region. It also highlights the strong collaboration of the teams in both Jakarta and Singapore. The team was comprised of partner Tuti Hadiputranto and associates Putu Raditya Nugraha, Ferry Fajarin Rajagukguk and Dion Alfadya in Jakarta, and principals Lynette Low, Jon Worsfold and associates Alex Tan and Joshua Koh from Singapore. Commenting on the transaction, Tuti Hadiputranto, said, "It has been a real pleasure to work once again with Rajawali Corporation on another significant transaction, and to be part of the team putting together a landmark deal in the Indonesia commercial, real estate sector. The transaction played to Baker & McKenzie's strengths - the ability to deliver a seamless service across jurisdictions, and to provide sound but commercially-savvy advice on structuring challenges."
Written by John on 08 October 2013.
♦ Breaking BigLaw News ♦ Indonesia, Jakarta
Today Taylor Wessing announces the addition of a new office in Jakarta, Indonesia. A cooperation agreement has been signed with leading Indonesian law firm Hanafiah Ponggawa & Partners (HPRP). This cooperation agreement will see Taylor Wessing and HPRP share knowledge, resources and best practice, enabling them to provide a seamless service to clients in Singapore, Indonesia and across Taylor Wessing's wider network of offices in Europe, the Middle East and Asia. HPRP in Indonesia and RHTLaw Taylor Wessing in Singapore both have reputations as leading firms in their respective jurisdictions, and have been close partners over the last two years. This partnership marks another strategic step forward for both firms in deepening their Southeast Asian presence. “This past year has seen significant growth for Taylor Wessing,” says Tan Chong Huat, Managing Partner, RHTLaw Taylor Wessing LLP and Member of the International Management Board of Taylor Wessing. “In Singapore we are fortunate to have grown into new markets, and developed practice specialisms along the way. Our partnership with HPRP, one of the most respected law firms in Indonesia, will give a tremendous boost to our regional Southeast Asian practice. It will add value and counsel to our clients, many of whom are Indonesian or have a presence in Indonesia. This new and exciting arrangement will not only bring about greater integration in our practices, but also raise our capabilities to a higher level, enhancing our reputation as a firm that blends the best of local knowledge with international capability. This partnership not only brings our two firms closer together; it also brings our people closer together. This is what we have always been good at.” Constant Marino Ponggawa, Managing Partner, Hanafiah Ponggawa & Partners added: “Our partners have enjoyed a long-standing and solid relationship with the partners of RHTLaw Taylor Wessing LLP and are pleased to be in association together to offer our clients the added resources and expertise of a full-service international firm. Both our firms share common values and are committed to ensuring that great opportunities are created for our clients. This new partnership will give us a new regional footprint in the market.” With the addition of HPRP, Taylor Wessing offers clients access to more than 950 legal professionals across 23 offices in Asia, the Middle East and Europe.
Written by John on 03 September 2013.
♦ Breaking BigLaw News ♦ Indonesia
International law firm Clyde & Co and Indonesian law firm Lubis Ganie Surowidjojo (LGS) are pleased to announce their association. The association will focus on servicing clients across Indonesia in its growing provinces and regions and Indonesian business venturing abroad. LGS was founded over 30 years ago and is one of Indonesia's largest law firms, with a track record of large and complex transactions, and clientele including top Indonesian and international corporates as well as Indonesian Government agencies. The firm has current plans for further national expansion. LGS' focus strongly mirrors that of Clyde & Co, with strengths in the energy, infrastructure, marine, and trade and commodities sectors, areas where the two firms plan to work closely together. Clyde & Co is a major international law firm with a network of 34 offices across 6 continents, and with a focus on core sectors of infrastructure, natural resources, international trade, transportation and insurance. The firm has a particularly strong reputation for complex and high profile international dispute resolution and for its work in fast-moving and volatile emerging markets. Clyde & Co's current network coverage across Asia-Pacific, where it has had an on-ground presence for over 30 years, includes eight offices and associated offices in Singapore, Australia, China and India. The firms intend that a focus on disputes, compliance and regulatory matters will distinguish their association. As part of their association, the two firms plan to place lawyers into each other's offices and to integrate lawyers on teams on relevant matters. Clyde & Co’s Asia Managing Partner Michael Parker said: “LGS is an ideal partner for us given its established, leading practice in the areas in which we specialise. For us, an established firm that has both history and vision makes an ideal partner.” LGS Managing Partner M. Idwan “Kiki” Ganie said: “We believe this association is distinctive, as both firms are established, forward-looking sector specialists who are fully immersed in their clients' industries. As Indonesian business increasingly engages beyond Indonesian borders and international businesses expand in Indonesia's regions, LGS and Clyde & Co offer the right combination of international and local reach. To implement our vision to offer Indonesia's largest network of branches and associated offices to our clients, LGS intends to roll out offices throughout Indonesia. We have asked Clyde and Co to support such efforts with their expertise.” Michael Horn, a Singapore-based projects and resources partner, will head the relationship for Clyde & Co. An Indonesian market veteran who first moved to Indonesia in 1992, Michael said "After a long history of friendship, I am delighted that we are formalising our association with LGS. The LGS partners have always impressed with their consistent quality and unfailing good judgment."