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Clifford Chance

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Indonesia

We've worked on Indonesian transactions for over 30 years. Together with LWP, our associated firm in Jakarta, we provide clients with a one stop legal offering for international and local legal advice in Indonesia.

Indonesia – an attractive option

Indonesia is emerging as an attractive and profitable destination in Asia Pacific. With many promising changes underway in its business environment, which has been boosted by regulatory reforms, increasing levels of investment and a growing middle class, Indonesia is set for healthy investment growth with long-term economic prospects.

The highest quality Indonesian legal advice and consistency of service

We have been advising clients on Indonesian matters for over 30 years. Our association with Linda Widyati & Partners (LWP) further supports our commitment to delivering world class legal services to clients in key markets at the international standards that our clients expect from Clifford Chance around the globe. LWP provides the highest quality of Indonesian legal advice and the combination offers our clients a one stop integrated and consistent offering.

LWP specialises in corporate/M&A transactions and advisory work, foreign investment advice as well as capital markets, and banking and finance in a range of sectors including financial institutions, energy and resources, private equity, consumer goods and& retail and, technology, media and& telecoms.

Together, it is our scale, scope and experience that allow us to offer to our clients high quality solutions to legal, regulatory and business issues. Our combined in-country expertise gives us considerable insight into the issues that can arise and enables us to anticipate and help clients resolve potential obstacles at an early stage. We are committed to Indonesia and to expanding and deepening our product offering for international as well as Indonesian clients.

Recent examples of our Indonesia work include advising:

  • Star Energy on the sale of 20% of Star Energy Geothermal to Mitsubishi Corporation for US$210 million (2012)
  • J.P. Morgan and Mandiri Sekuritas on the IPO and listing on the Indonesian Stock Exchange of PT Express Transindo Utama (2012)
  • Standard Chartered Bank on a US$1 billion facility for PT Borneo Lumbung Energi & Metal (2012)
  • China EXIM on its US$1.2 billion loan to PT Huadian Bukit Asam Power to build and operate a 1,241-megawatt mine mouth coal fired steam power plant at Bangko Tengah in South Sumatra (Sumsel-8) (2013).

Recent highlights

Awards and milestones

  • Formed an association with LWP in January 2014
  • Trade Finance Deal of the Year: Euromoney Islamic Finance Awards, 2012 for our work on PT Axis Telekom Indonesia

Recent assignments

Examples of Indonesia work include advising:

  • Philip Morris International on its US$5.2 billion acquisition of Sampoerna. This was, at that time, the largest ever cross-border acquisition in Indonesia
  • Barclays on its acquisition of PT Bank Akita, a privately owned bank with ten outlets in three major cities in Indonesia
  • PT Matahari Department Store in relation to the public offering in Indonesia and global private placement by CVC and other shareholders of approximately 45% of Matahari's share capital
  • the lenders on a US$285 million leveraged finance facility and US$315 million high yield bond (including complex bank/bond intercreditor and security sharing issues) in connection with the acquisition of PT Bukit Makmur Mandiri Utama, and subsequent US$600 million and US$800 million refinancings
  • PT Indosat on a US$1 billion asset swap with PT Telekom, including advising on the New York Stock Exchange and US disclosure obligations
  • Standard Bank on the term and revolving credit facilities for Risco Energy
  • PT Weda Bay Nickel in Indonesia in connection with the development and financing of a nickel mine and its associated infrastructure
  • the Indonesian branch of a major International bank in dealing with a case involving a multi-million dollar fraud allegedly perpetrated by a senior relationship manager, and related disputes.

Directory listings and client comments

  • "Clifford Chance was one of the first international firms to become active in the Indonesian market, and has a wide-ranging practice covering banking and finance, corporate M&A, capital markets, project finance and dispute resolution."
    Chambers Asia Pacific 2013
  • "Clifford Chance is recommended for M&A and financing."
    Legal 500 Asia Pacific 2014
  • Sources say: "We are very happy with Clifford Chance. The most valuable thing we have found is their attention to detail in negotiation. They are helpful and diligent."
    Chambers Asia Pacific 2013
  • "Linda Widyati, … is recommended for her 'commerciality and team management'."
    Asia Pacific Legal 500 2014
  • "Linda Widyati is … thought of as 'a stellar lawyer' with great commercial sense."
    Chambers Asia Pacific 2014
  • "Linda Widyati is highly rated by peers for her M&A expertise and has acted on a range of notable cross-border transactions."
    IFLR 2014