PT Jembatan Nusantara Acquisition – The signing of the Share Sale and Purchase Agreement by PT Mahkota Pratama and PT Indonesia VIP with PT ASDP Indonesia Ferry (Persero)
Congratulations to PT Mahkota Pratama and PT Indonesia VIP for the signing of the Share Sale and Purchase Agreement with ASDP, a State-Owned ferry operator, for the acquisition of PT Jembatan Nusantara by ASDP. Through this transaction, ASDP will have 53 additional ships and therefore increase the size of its fleet from 166 ships to become 219 ships. This fleet power will further strengthen PT ASDP Indonesia Ferry (Persero) status as Indonesia’s largest sea fleet operator and a dominant market share holder in Indonesia (approximately 29%). The conclusion of this deal also signifies ASDP’s first step to its proposed IPO in the 3rd quarter of 2022.
Led by our Senior Partner Reggy Firmansyah with support from our Senior Associate Ferin Chairysa, and Associates Valerie Vanya Kaulica, Ilham Pangeran Kevianto, and Bidadari M. Respaty, we are proud to act as PT Jembatan Nusantara and the Sellers legal counsel in this exciting deal. It is an honor indeed to continue participating in a deal that is a historic moment for the Indonesian sea transportation industry. Congratulations once again to all of the involved parties!