IFLR 1000 (2016)
Banking – Tier 2
Capital markets – Tier 1
Energy and infrastructure – Tier 3
Mergers and acquisitions – Tier 1
Project Finance - Tier 2
Restructuring and insolvency – Tier 3
Fikri Assegaf – Capital Markets, Corporate and M&A, Energy & Infrastructure, Banking
Bono Daru Adji - Capital Markets, Corporate and M&A, Energy & Infrastructure, Banking
Ibrahim Sjarief Assegaf – Corporate and M&A, Banking
Eri Hertiawan – Energy and Infrastructure
Yanu Wiriasmoko – Financial Restructuring
Assegaf Hamzah & Partners joined the network of the South East Asia regional firm Rajah & Tann in 2013. The veteran partners keep the firm at the forefront of Indonesia market and provide clients with profound insights. “The firm has deep knowledge and provided our company with opinions to enable management to make decisions,” a client explains and praises the firm’s managing partner: “Fikri Assegaf is our only corporate lawyer and his advice goes beyond what is needed. Always makes time to meet clients and I am always able to meet him for urgent matters.”
The firm added Zacky Husein, who previously worked for Indosat, to the M&A practice as partner in late 2014.
The firm advises clients regularly on different banking and finance deals, including shariah-compliant investments and project finance. The firm’s highlight deals in recent months include Fikri Assegaf advising Export-Import Bank of China on its arrangement of financing for the Sumsel-8 mine-mouth coal-fired power plant construction in South Sumatra to Huadian Bukit Asam with a deal value of $1.2 billion.
Elsewhere Ibrahim Assegaf advised CIMB Bank (Singapore branch) and Qatar National Bank (Singapore branch) in preparing documentation related to a $100 million loan facility to Plaza Indonesia Realty for the purpose of refinancing existing facilities.
The firm’s project finance team is on retainer with PT Mass Rapid Transit (MRT) Jakarta in relation to the tendering out of Phase 1 of rail construction, civil and sub-contractors’ work. The firm has already begun preparatory work on four more tenders to be held this and early next year on a development that is said to be the largest construction project ever undertaken in Indonesia.
Elsewhere the firm acted as Indonesian counsel for a group of banks in relation to a $143 million financing facilities for the construction of a hydropower plant in Indonesia’s Lampung province.
In the capital markets, head of department and partner Bono Adji advised Tower Bersama Infrastructure in relation to a $350 million notes issuance through TBG Global. Adji was also legal counsel to Graha Layar Prima in its IPO and listing on the Indonesia Stock Exchange. In another IPO deal, Fikri Assegaf was Indonesian legal advisor to Japfa in its S$198 million offering which comprised of an international offer of over 231 million shares and a Singapore public offer with a near 17 million shares.
One of the firm’s more prominent deals in 2014 in M&A was the 3,500 telecommunication towers sale by XL Axiata to winning bidder, Solusi Tunas Pratama (STP). Adji and partner Valerie Ngooi advised XL Axiata as sole legal advisor on this complex tender with an enterprise value of around $577 million, which involved several high profile bidders including the three largest Indonesian companies in the tower business.
Staying in the TMT sector the firm also advised on a joint venture for Multimedia Nusantara (Metra) with Australia-based telecommunications provider Telstra Corporation, with Metra being the majority shareholder.