Corporate/M&A
Asia-Pacific Guide 2025 : Indonesia
Band 1
About
Provided by Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills
We are one of the leading law firms for strategic and complex M&A involving Indonesia. We are familiar with key regulatory issues for M&A in Indonesia, engaging with the Financial Services Authority (OJK), Investment Coordinating Board (BKPM) and technical ministries like the Ministry of Trade and Ministry of State-owned Enterprises.
We regularly act for leading corporates, financial institutions, private equity funds and other financial buyers on some of the biggest cross-border M&A deals across all major industry sectors, including financial services, TMT, digital economy and fintech, healthcare & pharmaceutical, consumer products, manufacturing/industrials and energy & infrastructure.
Our recent work highlights include acting for:
- Yupi Indo Jelly Gum on its sale to Affinity Equity Partners for $1.2 billion
- CVC on its acquisition of a controlling stake in Siloam International Hospitals
- Commonwealth Bank of Australia on divestment of a 99% stake in Bank Commonwealth to OCBC Indonesia
- Jayamandiri Gemasejati, Yamaha’s motorbike distributor in Indonesia, in sale of controlling stake in Mandala Multifinance to MUFG Bank and Adira Dinamika Multi Finance
- Inchcape on acquisition of Mercedes-Benz assembly and distribution operations in Indonesia
- Ramsay Health Care and Sime Darby on the biggest healthcare sale in Southeast Asia since 2019, to regional provider Columbia Asia
- Petrindo Jaya Kreasi on acquisition of Multi Tambangjaya Utama, an Indonesian coal miner, from Indika Energy
Chambers Review
Hiswara Bunjamin & Tandjung is singled out for its capacity to handle big-ticket M&A and for advising prestigious international corporates on their entry into the Indonesian market. The firm is also active for leading Indonesian companies, advising clients on a range of legal issues relating to key acquisitions, divestments and joint ventures. The team regularly appears for clients on matters in the financial services,healthcare, infrastructure and natural resources sectors.
Work Highlights
- Hiswara Bunjamin & Tandjung advised Jayamandiri Gemasejati on the sale of its controlling stake in Mandala Multifinance to MUFG Bank and Adira Dinamika Multi Finance.
Strengths
Provided by Chambers
"One of the team's greatest strengths is to drive commercial outcomes whilst managing the appropriate risk allocation between the parties."
"The firm's strengths are subject matter expertise, excellent quality and excellent response times."
"One of the team's greatest strengths is to drive commercial outcomes whilst managing the appropriate risk allocation between the parties."
"The firm's strengths are subject matter expertise, excellent quality and excellent response times."
Notable Practitioners
David Dawborn is a highly regarded foreign legal consultant with extensive experience in corporate law matters in Indonesia. He regularly advises on high-value cross-border transactions.
"David is highly experienced, has great expertise and is great for negotiations. He's mature and responsive."
Vik Tang is rated highly for his transactional experience in Indonesia as a foreign legal consultant. His practice covers M&A in a range of sectors, including technology and financial services.
"Vik is very commercial, very reliable and very practical. He is also able to bring parties together to focus on solutions."
Cellia Cotan Cognard is a foreign legal consultant in Jakarta who handles M&A transactions across a range of industry sectors, including TMT.
"She has excellent knowledge of Indonesian laws, great attention to detail, and is proactive and very responsive."
Michelle Virgiany is of counsel at Herbert Smith Freehills, on a long-term secondment to Hiswara Bunjamin & Tandjung.Her practice spans M&A in the financial services and technology sectors.
"She is an excellent legal practitioner with a deep understanding of our needs and drives the team's response time and service levels."
"She is an outstanding practitioner. A very talented and capable lawyer."
Sakurayuki advises clients on the legal aspects of company and asset acquisitions in Indonesia, with notable activity in the TMT sector.
Abimata Putra handles cross-border M&A transactions, particularly in regulated sectors such as financial services, healthcare and insurance. His client roster includes corporations, banks as well as private equity and investment firms.
Ranked Lawyers at
Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills
Indonesia
Members
Provided by Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills
Irfan Ghazali
Santi Darmawan
Head of Department
Clients
Provided by Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills
CVC
Columbia Asia
Commonwealth Bank of Australia
Dian Swastatika Sentosa
Emtek
Hillhouse Investment
Inchcape
Indocement
Nusantara Infrastructure
Petrindo Jaya Kreasi
Singtel
Sumitomo Corporation
Industries
Provided by Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills
Agriculture and Agribusiness
Agriculture and Agribusiness
Energy and Utilities
Financial Investors
Financial Services
Health and Life Sciences
Industrials, Engineering and Manufacturing
Insurance
Property, Construction and Infrastructure
Resources and Mining
Retail and Consumer
TMT