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White & Case has advised Thailand’s Bangkok Bank on its $2.3 billion acquisition of an 89 percent stake in Indonesia’s PT Bank Permata from Standard Chartered Bank and PT Astra International.
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Hiswara Bunjamin & Tandjung (HBT), the associate firm of Herbert Smith Freehills in Indonesia, has appointed dispute and debt restructuring specialist Debby Sulaiman as a partner in Jakarta.
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Sidley, A&G, Links advise on $2.5 bln sale of SG building to Qatar fund, Wong & Partners, Cheang & Ariff on Zurich Insurance’s takaful buy, and more in this week’s Southeast Asia deals table.
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Sidley Austin and Milbank, Tweed, Hadley & McCloy have advised an Indonesian investor group including Medco Energi on its $2.6 billion acquisition of an 82 percent stake in Newmont Nusa Tenggara
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Shearman & Sterling and Assegaf Hamzah & Partners have advised PT Cikarang Listrindo, an Indonesian independent power producer, on its $275 million initial public offering, with Herbert Smith Freehills and Hiswara Bunjamin & Tandjung representing the underwriters.
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White & Case has, through its Indonesian alliance firm Witara Cakra Advocates (WCA), hired two banking and capital markets partners from Hiswara Bunjamin & Tandjung (HBT), Herbert Smith Freehills’ associated law firm in the country.
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The ASEAN Economic Community (AEC) is due to be established by the end of the year, which should encourage trade and attract investment into the region. The liberalisation and integration of ASEAN members’ capital markets has been a key focus area in the lead up to the AEC. Some analysts have claimed that the success of the AEC’s capital markets will be heavily dependent on the participation of Indonesia, ASEAN’s largest economy and most populous nation. But how ready is Indonesia? Meanwhile, Indonesia’s legal market has been busy, with a number of local firms looking to forge alliances with regional and international players in preparation for the new AEC era. Kanishk Verghese reports
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Milbank and Melli Darsa have acted as international and domestic counsel to PT Blue Bird on its $200 million IPO, with Clifford Chance and Hiswara Bunjamin representing the joint global coordinators and bookrunners.