International law firm Berwin Leighton Paisner (BLP) has advised Long Haul Holdings Limited and PT Bakrie & Brothers Tbk (Bakrie Group) on the US$1bn sale of part of the Bakrie Group interest in London-listed Bumi plc to Borneo Lumbung Energy and Metal (Borneo), another Indonesian company.
The deal, which was announced in October 2011 and completed on 20 January 2012, means that Bakrie Group and Borneo now own, together, indirectly a 47.6% shareholding in Bumi.
This significant and complex transaction is one of the most high profile of recent times in both the UK and Asia. The deal straddled the jurisdictions of Singapore, Indonesia, England and Wales and adds to BLP’s growing high-end cross-border M&A deal list and the team’s leading reputation in the mining sector.
Alistair Duffield and Tahirah Ara led the team in Singapore and Benjamin Lee led the London team supported by London partners Nick Myatt and Gary Richards and a team of associates in London and Singapore.
Slaughter & May and Soemadipradja & Taher advised Borneo, and Rambun Tjajo of Hadiputranto acted as Indonesian Counsel for the Bakrie Group.
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