Angelica Ayu Maharani is a Partner in the Corporate/ Merger & Acquisitions Practice Group at AHP. She began her legal career in 2006 and joined AHP in 2010.

Angelica is a licensed lawyer with a solid grounding in corporate and commercial matters.  She has represented State-owned enterprises private and public companies on mergers and acquisitions transactions. Angelica is also well versed in advising on other legal matters that are ancillary to a merger and acquisition transaction, including foreign investment, joint venture, property related issuesand healthcare. Her experience ranges from drafting, and reviewing commercial agreements, and providing advice on general corporate matters and compliance. In the past, Angelica also assisted on several major capital markets transactions.

Her clients include companies from various industries, including IT, broadcasting, petrochemical, mining, e-commerce, consumer goods, multifinance, property and healthcare.

Experience

Mergers & Acquisitions

• Assisted Edotco Group in the establishment of an Indonesia subsidiary, through the acquisition of 859 telco towers from XL, marking Edotco’s presence in the Indonesian market for the first time. We provided legal advice starting from the pre-establishment process, and throughout the establishment of the subsidiary. On top of that, we also conducted legal diligence on the acquired telco towers and represented Edotco as the purchaser in the acquisition and lease back to XL as the seller.
• Assisted Webull and Northstar Group in the acquisition of 100% shares in PT MahastraAndalanSekuritas, now PT WebullSekuritas Indonesia.
• Assisted a global investment company headquartered in Singapore, with its investment in an Indonesian agritech start-up, which successfully closed USD 90 million in its Series C round, making it the largest fundraise by an aquaculture technology start-up in the world.
• Represented CPRM in establishing PT Era Caring Indonesia (“JV Co”), a joint venture company with PT Era Prima Indonesia, part of Erajaya group. The majority shares held by CPRM represent 50.1% of the total issued and paid-up capital of JV Co.
• Acted for the controlling shareholders of seven state-owned hospitals, namely PT Krakatau Steel (Persero) Tbk., PT Pelabuhan Indonesia II (Persero), PT Pelabuhan Indonesia III (Persero), PT Perkebunan Nusantara X, PT Perkebunan Nusantara XI, PT Perkebunan Nusantara XII, and PT TimahTbk., in the second phase of the establishment of a state-owned hospital holding company, led by PT Pertamina Bina Medika IHC (“PBM”). The transaction resulted in PBM becoming the new controller of the seven hospitals by holding approximately 67% shares in each hospital.
• Advised the private equity sellers on the divestment of their 80% interest in PT Finansia Multi Finance, an Indonesian multi-finance firm, to KB Kookmin Card, the credit card operator of KB Financial Group.
• Represented Mitsubishi Chemical Corporation and Mitsubishi Chemical Performance Polymers Asia Pacific Pte. Ltd. in an acquisition of property and 100% shares of PT ABC Plastindo, a local plastic manufacturer. This deal was unique and complex because the conversion of PT ABC Plastindo to a foreign direct investment company was processed and negotiated under three different investment regimes. Further, the deal also involved the rehiring of employees, which required the preparation of a settlement agreement and payment of severance by the company. Lastly, we also advised on the transfer of land and cancellation of the purchase of land by the company.
• Advised PT Provident AgroTbk., on the sale of four of its plantation subsidiaries to PT GalanggangMaju Bersama and PT MandhalaCiptaPurnama for a total consideration of IDR 2.6 trillion. Our scope of work included reviewing the transaction documents; assisting the client and its subsidiaries with the negotiation process; reviewing the conditions precedent under the transaction agreements; advising the client on the overall divestment structure; and assisting the client in conducting an extraordinary general meeting of shareholders and obtaining the Financial Services Authority (OJK)’s approval for the transactions.
• Acted as the Indonesian counsel to an Indonesian-based web portal start-up company on the restructuring its group companies in relation to the receipt of two tranches of investment, amounting to US$1.2 million and US$83 million.
• Acted as counsel to a Japanese packaging company in its joint venture with an Indonesian packaging and manufacturing company.
• Advised Southgate Ventures Pte Ltd, an educational services provider, on the restructuring of its group structure including its local foundations holding the management of the Singapore School in various cities in Indonesia.
• Assisted PT Multimedia Nusantara (METRA), a subsidiary of PT Telekomunikasi Indonesia Tbk. (Telkom), the country’s largest telecommunications provider, in relation to the establishment of a joint venture company with Australia-based telecommunications provider, Telstra Corporation Limited. METRA is the majority shareholder in the joint venture company.
• Advised an Indian media company on its acquisition of an Indonesian children broadcasting company  (now rebranded as one of  the private broadcasting institution in Indonesia).
• Represented PT Recapital Advisors, an Indonesian private equity house, in a series of acquisitions in the coal mining, property, shipping and media sectors in Indonesia.
• Represented PT HD Corpora and Wealth Paradise Holdings Ltd in the sale of 45% of the share capital (controlling interest) of PT HD Finance Tbk., to PT Tiara MargaTrakindo for a consideration of IDR 208.13 billion.
• Advised the owner of a major Indonesian retail bakery chain on its sale to an international private equity investor.
• Advising Nalco group on the establishment of a joint venture company in Indonesia to provide oil and gas support services.
• Acted as counsel to Baring Private Capital Asia in its acquisition of a 41.65% stake in PT Cardig Air Services from PT Menara Nusantara through a call option mechanism.
• Represented the shareholders of PT MultistradaArah Sarana Tbk., an Indonesian tire producer, in the disposal of 20% shareholding in the company for a total consideration of approximately IDR 691.6 billion.

Capital Markets

• Acted as the Indonesian counsel to PT Chandra Asri Petrochemical Tbk. (CAP) on the refinancing its debts through the redemption of notes issued by a CAP’s wholly-owned subsidiary using funds obtained by CAP through new loan facilities extended by various Thai bank lenders, while simultaneously restructuring/amending the existing term loan facility of CAP. The total value of the combined transactions was approximately US$555 million.
• Assisted PT Bekasi Fajar Industrial Estate Tbk in relation to its initial public offering, supporting the company through the various stages of the IPO process. 

Banking & Finance and Projects

• Acted as the Indonesian counsel to PT Chandra Asri Petrochemical Tbk. (CAP) on the refinancing its debts through the redemption of notes issued by a CAP’s wholly-owned subsidiary using funds obtained by CAP through new loan facilities extended by various Thai bank lenders, while simultaneously restructuring/amending the existing term loan facility of CAP. The total value of the combined transactions was approximately US$555 million.

Technology, Media & Telecommunications

• Assisted one of the largest Indonesian telecommunication provider companies in setting up a joint venture with a local telecommunication devices provider.
• Assisted the establishment of a representative office of a technology company focusing in advertising services.

Others

• Advised Lotte Chemical Corp Korea, one of the largest chemical companies in Asia, on land acquisition and due diligence processes in respect of a large plot of land to be acquired by the client for the construction of a new cracker plant in the Cilegon Industrial Zone, Banten.
• Advised PT Restyle Concept on the procurement of land in the South Jakarta area. Negotiations are currently underway in respect of a 5,910 sqm plot after the earlier purchase of a 4,580 sqm plot for a consideration of IDR 113 billion.