Acquisition of Soekarno-Hatta Airport Rail Business by PT Kereta Commuter Indonesia
We are thrilled to have been involved in the successful acquisition of the Soekarno-Hatta airport rail business by PT. Kereta Commuter Indonesia (KCI), from PT Railink (Railink).
Led by our Merger & Acquisition, Restructuring, and Special Situations Partner, Pramudya A. Oktavinanda, and Senior Associate, Ajeng Ayuningtyas, and supported by our Associate, Winda Yanti Harianja, we have successfully assisted PT Kereta Api Indonesia (Persero) (KAI) and its subsidiaries, KCI and Railink, to close the deal involving complex restructuring related to the airport rail assets. The deal is part of the restructuring and integration of DKI Jakarta’s mass rapid transportation system with the overall goal of creating a better and more efficient public transportation system in one of the biggest and most dense megacities in the world.
Despite the challenges due to the complexity of this case, we were able to successfully assist KAI Group in completing the transaction, which involved complex restructuring, transfer of assets and debts related to the airport rail assets secured to project lenders, and ensuring all regulatory compliances related to KAI’s public service obligation through the airport rail business being transferred to KCI.
Our involvement in this acquisition has been an incredible opportunity, allowing us to demonstrate our firm support for the government’s initiatives to integrate the different modes of transportation to enhance the ease of mobility for the public. It is an honor for us to have the chance to play a pivotal role in the development of public infrastructure, and we look forward to continuing our contribution towards the advancement of the society.