Ajeng Ayuningtyas (Ajeng) obtained her law degree from Universitas Gadjah Mada with cum laude honor and was one of the most outstanding students in her class.
As one of the youngest lawyer to be appointed as a Counsel in UMBRA and acting as the co-head of our Merger & Acquisition Focus Group, Ajeng has been trusted to handle some of UMBRA’s most complex M&A and Restructuring deals in the power, energy, infrastructure and financial institution sectors, including the acquisition of a 300MW power plant asset for the supply of electricity in Rokan Oil Block by PT PLN (Persero), the proposed establishment of one the largest geothermal power companies in the world via complex spin-off and transfer of major power plant assets, acquisition of a Shari’a insurance company by Kitabisa, and issuance of Sukuk for the purpose of debt restructuring by one of prominent state-owned company subsidiaries.
She is also well experienced in Special Situation works, including in the structuring of Indonesia’s Energy Transition Program for retiring coal power plants in Indonesia via complex acquisition of power plant assets and refinancing of international project loans, another unprecedented deal managed by UMBRA demonstrating our innovative thinking in getting things done for our clients.
Ajeng is a member of the Indonesian Advocates Association (PERADI) and Indonesian Competition Lawyers Association (ICLA).
Practice Focus
M&A, Restructuring, and Anti-Trust
Sub-Practice & Industry
Private M&A; Corporate and Debt Restructuring; Foreign Investment, Corporate Governance; State- Owned Enterprises; Power, Energy & Infrastructure; Intellectual Property
Language
Indonesian & English
Education
- Universitas Gadjah Mada, Faculty of Law, Bachelor of Laws – cumlaude (2015).
Professional Affiliations
- Member of the Association of Indonesian Advocates (PERADI).
- Member of the Indonesian Competition Lawyers Association (ICLA).
Honors & Awards
- Best Outstanding Student – Faculty of Law, Universitas Gadjah Mada (2015).
- Runner up of Supreme Court Decision Analysis Competition held by Supreme Court of the Republic of Indonesia (Mahkamah Agung Republik Indonesia) and the Australia Indonesia Partnership for Justice (AIPJ) (2014).
- Champion of National Debate Competition and Scientific Paper Writing held by Universitas Brawijaya (2013).
- Champion of National Moot Court Competition held by ALSA Indonesia (2012).
Energy, Infrastructure, and Power related M&A Transactions
- Representing Indonesia Investment Authority (INA), the sovereign wealth fund of the Republic of Indonesia in the proposed early retirement of PLTU Cirebon-1 as part of ADB’s Energy Transition Mechanism (ETM) pilot program aimed to address the issue of climate change (ongoing).
- Representing PT PLN Indonesia Power (PLN IP) in establishing a partnership with PT Trina Dian Agra Energy (SinarMas Group) for the development of a Solar PV Manufacturing Plant in Kendal, Central Java (2023).
- Representing an Indonesian major oil and gas company to develop cooperation in the nickel value chain, among others, nickel ore mining, smelting and refining (upstream to downstream) through complex structure involving equity injection that will be further used for nickel smelting facility (2023).
- Representing PT Kereta Api Indonesia (Persero) (KAI) in the proposed acquisition of Soekarno-Hatta airport rail business by its subsidiary, PT Kereta Commuter Indonesia (KCI) from PT Railink (Railink), involving complex restructuring and transfer of debts related to the airport rail assets secured to project lenders. 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 mega cities in the world (2022).
- Representing PT PLN (Persero) (PLN) and PLN IP in the proposed geothermal asset consolidation to establish one of the largest geothermal power companies in the world which involves spin-off of their geothermal assets and liabilities having a value of more than IDR15 trillion into a new holding company (2021).
- Representing PLN’s acquisition of PT Mandau Cipta Tenaga Nusantara (MCTN), an Indonesian power company with a 300MW cogeneration power plant asset for the supply of electricity in Rokan Oil Block, Indonesia, via complex competitive bidding. This landmark deal will ensure continuous supply of electricity to the Rokan Oil Block, one of the largest and most productive oil blocks in Indonesia, concluding one of the most challenging elements related to the block’s transfer as an important part of the Government of Indonesia’s plan to maintain energy independence (with the block allowing Pertamina to produce 25% of Indonesia’s total oil output) and support domestic economic growth (2021).
Technology, Media & Telecommunication related M&A Transactions
- Representing one of the largest integrated telecommunication and power infrastructure companies in Indonesia in its proposed spin-off of its retail internet business broadband, including its consumers and any other object related to the business broadband (ongoing).
- Representing PT Telekomunikasi Selular (Telkomsel), the largest mobile telecommunication operator in Indonesia, in its IDR10.28 trillion sale and leaseback of its 6,000 telecommunication towers to PT Dayamitra Telekomunikasi Tbk (Mitratel) and development of new BTS towers. Not only that the deal breaks another record in terms of value (being one of the largest deals in Southeast Asia), it also breaks the record for being one of the fastest large scale asset M&A deals to be completed in the region, if not the fastest (completed in less than a month) (2022).
- Representing Mitratel in its Rp16.488 trillion sale & leaseback transaction of 10,050 telecommunication towers of Telkomsel. It is the largest telco assets M&A transaction in Southeast Asia to date (2021).
- Representing Mitratel in its proposed acquisition of a fiber optic company with 7,700 km fiber optic network via pre-acquisition restructuring and complex acquisition scheme combining assets, business and share purchase (2021).
- Peer Group Discussion and Sharing Session with PT Pembangkit Jawa Bali on the Implication of Omnibus Law in the Construction Services (2020).
- Long-Awaited Omnibus Law Finally Enacted – Published as a client alert (2020).
- Changes to Competition Law under Omnibus Law – Published as a client alert (2020).
- Changes to Investment Law under Omnibus Law – Published as a client alert (2020).
- Omnibus Law Amends Provisions under Company Law to Empower Micro, Small, and Medium Business – Published as a client alert (2020).
- New Regulation on COVID-19 Vaccines Procurement – Published as a client alert (2020).
- Handling COVID-19 Outbreak in Construction Services Sector – Published as a client alert (2020).
- KPPU: Law Enforcement Through Electronic Means – Published as a client alert (2020).
- ABOUT
-
Ajeng Ayuningtyas (Ajeng) obtained her law degree from Universitas Gadjah Mada with cum laude honor and was one of the most outstanding students in her class.
As one of the youngest lawyer to be appointed as a Counsel in UMBRA and acting as the co-head of our Merger & Acquisition Focus Group, Ajeng has been trusted to handle some of UMBRA’s most complex M&A and Restructuring deals in the power, energy, infrastructure and financial institution sectors, including the acquisition of a 300MW power plant asset for the supply of electricity in Rokan Oil Block by PT PLN (Persero), the proposed establishment of one the largest geothermal power companies in the world via complex spin-off and transfer of major power plant assets, acquisition of a Shari’a insurance company by Kitabisa, and issuance of Sukuk for the purpose of debt restructuring by one of prominent state-owned company subsidiaries.
She is also well experienced in Special Situation works, including in the structuring of Indonesia’s Energy Transition Program for retiring coal power plants in Indonesia via complex acquisition of power plant assets and refinancing of international project loans, another unprecedented deal managed by UMBRA demonstrating our innovative thinking in getting things done for our clients.
Ajeng is a member of the Indonesian Advocates Association (PERADI) and Indonesian Competition Lawyers Association (ICLA).
Practice Focus
M&A, Restructuring, and Anti-Trust
Sub-Practice & Industry
Private M&A; Corporate and Debt Restructuring; Foreign Investment, Corporate Governance; State- Owned Enterprises; Power, Energy & Infrastructure; Intellectual Property
Language
Indonesian & English
- PROFILE DETAILS
-
Education
- Universitas Gadjah Mada, Faculty of Law, Bachelor of Laws – cumlaude (2015).
Professional Affiliations
- Member of the Association of Indonesian Advocates (PERADI).
- Member of the Indonesian Competition Lawyers Association (ICLA).
Honors & Awards
- Best Outstanding Student – Faculty of Law, Universitas Gadjah Mada (2015).
- Runner up of Supreme Court Decision Analysis Competition held by Supreme Court of the Republic of Indonesia (Mahkamah Agung Republik Indonesia) and the Australia Indonesia Partnership for Justice (AIPJ) (2014).
- Champion of National Debate Competition and Scientific Paper Writing held by Universitas Brawijaya (2013).
- Champion of National Moot Court Competition held by ALSA Indonesia (2012).
- REPRESENTATIVE DEALS
-
Energy, Infrastructure, and Power related M&A Transactions
- Representing Indonesia Investment Authority (INA), the sovereign wealth fund of the Republic of Indonesia in the proposed early retirement of PLTU Cirebon-1 as part of ADB’s Energy Transition Mechanism (ETM) pilot program aimed to address the issue of climate change (ongoing).
- Representing PT PLN Indonesia Power (PLN IP) in establishing a partnership with PT Trina Dian Agra Energy (SinarMas Group) for the development of a Solar PV Manufacturing Plant in Kendal, Central Java (2023).
- Representing an Indonesian major oil and gas company to develop cooperation in the nickel value chain, among others, nickel ore mining, smelting and refining (upstream to downstream) through complex structure involving equity injection that will be further used for nickel smelting facility (2023).
- Representing PT Kereta Api Indonesia (Persero) (KAI) in the proposed acquisition of Soekarno-Hatta airport rail business by its subsidiary, PT Kereta Commuter Indonesia (KCI) from PT Railink (Railink), involving complex restructuring and transfer of debts related to the airport rail assets secured to project lenders. 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 mega cities in the world (2022).
- Representing PT PLN (Persero) (PLN) and PLN IP in the proposed geothermal asset consolidation to establish one of the largest geothermal power companies in the world which involves spin-off of their geothermal assets and liabilities having a value of more than IDR15 trillion into a new holding company (2021).
- Representing PLN’s acquisition of PT Mandau Cipta Tenaga Nusantara (MCTN), an Indonesian power company with a 300MW cogeneration power plant asset for the supply of electricity in Rokan Oil Block, Indonesia, via complex competitive bidding. This landmark deal will ensure continuous supply of electricity to the Rokan Oil Block, one of the largest and most productive oil blocks in Indonesia, concluding one of the most challenging elements related to the block’s transfer as an important part of the Government of Indonesia’s plan to maintain energy independence (with the block allowing Pertamina to produce 25% of Indonesia’s total oil output) and support domestic economic growth (2021).
Technology, Media & Telecommunication related M&A Transactions
- Representing one of the largest integrated telecommunication and power infrastructure companies in Indonesia in its proposed spin-off of its retail internet business broadband, including its consumers and any other object related to the business broadband (ongoing).
- Representing PT Telekomunikasi Selular (Telkomsel), the largest mobile telecommunication operator in Indonesia, in its IDR10.28 trillion sale and leaseback of its 6,000 telecommunication towers to PT Dayamitra Telekomunikasi Tbk (Mitratel) and development of new BTS towers. Not only that the deal breaks another record in terms of value (being one of the largest deals in Southeast Asia), it also breaks the record for being one of the fastest large scale asset M&A deals to be completed in the region, if not the fastest (completed in less than a month) (2022).
- Representing Mitratel in its Rp16.488 trillion sale & leaseback transaction of 10,050 telecommunication towers of Telkomsel. It is the largest telco assets M&A transaction in Southeast Asia to date (2021).
- Representing Mitratel in its proposed acquisition of a fiber optic company with 7,700 km fiber optic network via pre-acquisition restructuring and complex acquisition scheme combining assets, business and share purchase (2021).
- PUBLICATIONS
-
- Peer Group Discussion and Sharing Session with PT Pembangkit Jawa Bali on the Implication of Omnibus Law in the Construction Services (2020).
- Long-Awaited Omnibus Law Finally Enacted – Published as a client alert (2020).
- Changes to Competition Law under Omnibus Law – Published as a client alert (2020).
- Changes to Investment Law under Omnibus Law – Published as a client alert (2020).
- Omnibus Law Amends Provisions under Company Law to Empower Micro, Small, and Medium Business – Published as a client alert (2020).
- New Regulation on COVID-19 Vaccines Procurement – Published as a client alert (2020).
- Handling COVID-19 Outbreak in Construction Services Sector – Published as a client alert (2020).
- KPPU: Law Enforcement Through Electronic Means – Published as a client alert (2020).