Practice Focus

Corporate & Securities

 

Sub-Practice & Industry

Private M&A, Restructuring, Corporate Governance, State-Owned Enterprises, Power, Energy & Infrastructure, Environment

 

Language

Indonesian & English

Andika Setia Budi

ASSOCIATE

+62 21 5082 0909

andika@umbra.law

Andika Setia Budi is an Associate of UMBRA – Strategic Legal Solutions. He has involved in various research, legal memos drafting, due diligences and transactions mainly related to power, mining, infrastructure, and oil and gas. He also has been a part of the team handling various M&A transactions, power and infrastructure projects, general corporate matters and foreign investment.

 

In less than 5 years of his career, Andika has handled the country’s various significant transactions with an aggregate value of more than USD 8 billion involving prominent clients. Andika is also featured as a Notable Practitioner by IFLR 2019, particularly through his deal, the proposed Rp20.1 trillion acquisition of PT Pertamina Gas by PT Perusahaan Gas Negara Tbk.

PROFILE DETAILS

Professional Affiliations

  • Member of the Association of Indonesian Advocates (PERADI)

 

Education

  • University of Indonesia, Bachelor of Laws (Sarjana Hukum) (2015)
  • Erasmus Universiteit Rotterdam, Exchange Semester (2014)

 

Awards & Accolades

  • IFLR1000 (2019 and 2020): Notable Practitioner in M&A.

REPRESENTATIVE DEALS

Andika’s experience includes:

 

M&A

  • Representing a major Indonesian conglomerate family in its proposed corporate and asset restructuring with business value of more than USD1 billion for the purpose of revamping the entire business & improve synergy among their group companies (ongoing).
  • Representing PT Kereta Api Indonesia (Persero) in its cooperation and partnership with PT MRT Jakarta (Perseroda) for the establishment of DKI Jakarta Transportation Holding Company which will fully integrate the DKI Jakarta mass rail transportation (ongoing).
  • Representing a major Indonesian conglomerate group in its proposed joint venture and corporate restructuring with foreign investors for the purpose of developing up to 2,000 MW power plant in Indonesia (ongoing).
  • Representing PT Telekomunikasi Indonesia (Persero) Tbk. (Telkom) in a complex sale & leaseback transaction of 2,100 telecommunication towers of PT Indosat Tbk. (IO) through a competitive bidding process. We completed the deal within a challenging timeline and assist Telkom in making the winning bid to IO (2019).
  • Representing PT Telekomunikasi Indonesia (Persero) Tbk. (Telkom) and PT Telekomunikasi Selular (Telkomsel) in the strategic investment in and development of LinkAja, the first state-owned enterprises supported financial technology, e-money and e-wallet company, involving complex business reorganization of Telkomsel’s e-money flag business, T-Cash, and creating one of the largest e-money companies in Indonesia (2019).
  • Representing a listed pharmacy company in its proposed acquisition of one of the largest hospital group companies in Indonesia (2019).
  • Representing a major Germany company in its proposed business and assets acquisition of an integrated steel and electrical company in Indonesia (2019).
  • Representing a state-owned enterprise in its divestment of a listed pharmaceutical company (2019).
  • Representing a major Indonesian telecommunication company in its proposed acquisition of a major local tech market place company (2019).
  • Representing a major listed pharmacy company in its proposed acquisition of four major hospitals in Indonesia (2018).
  • Representing an eco-friendly private equity in its proposed investment in a local wood trading company (2018).
  • Representing PT Perusahaan Gas Negara Tbk. in its proposed Rp20.1 trillion acquisition of PT Pertamina Gas (2018).
  • Advising a Chinese multinational IT investment holding conglomerate company in its investment in a major Indonesian ride-hailing holding company (2017).
  • Advising foreign investment shipping companies for internal merger (2017).
  • Assisting a major Japanese system integration company related to acquisition of an Indonesian IT services company (2017).
  • Advising a multinational company in relation to its divestment in a plantation company (2016).

 

Power and Infrastructure

  • Representing PJB and sponsor in the development of 840MW Sumbagut 134 combined cycle gas turbine power project (2019).
  • Representing PJB and sponsor in the development of 2x300MW Sumut-II coal fired power project (2019).
  • Representing PJB in the development of 2x100MW Kalselteng mine-mouth power project (2019).
  • Representing PT Jasa Marga (Persero) Tbk. in relation to electronic payment scheme restructuring (2019).
  • Advising PT Jasa Marga (Persero) Tbk in relation to the revision of its internal procurement regulations (2019).
  • Representing PJB in the development of 500MW Gas Turbine Mobile Power Plant Projects in several areas in Indonesia (2018).
  • Representing PT Jasa Marga (Persero) Tbk in relation to divestment and restructuring of toll road companies (2018).
  • Representing Indonesia Power and sponsor in the development of 2x300MW Jambi-I mine-mouth coal fired power project (2018).
  • Representing PJB in the drafting and negotiation of contracts for the development of REMDO system with General Electric for realtime online management of PJB’s power plants (2018).
  • Representing an international developer for proposed acquisition of existing geothermal project (2018).
  • Representing PJB services in the drafting and negotiation of US$35 million O&M contract for the operation and maintenance of 2 x 165 MW power plant (2019).
  • Representing a project company in connection to the development and financing of Indonesia’s first high-speed train project connecting Jakarta – Bandung (2015 – 2017).
  • Assisting a multinational investment company in the development of a wind power project in West Timor (2017).
  • Assisting a multinational water and energy company in relation to its divestment in a major drinking water company (2017).
  • Assisting a foreign investment company in relation to the divestment of its a mining and power companies (2016).
  • Advising and assisting various international clients in relation to development and acquisition of power projects in Indonesia.

 

Oil and Gas

  • Advising PLN in the preparation of model of gas sales agreement (ongoing).
  • Representing a listed oil & gas company in its proposed acquisition of another Indonesian gas company (2018).
  • Advising PLN in the comparison of gas sales agreements and gas transport agreements in multiple countries (2017).
  • Representing the national gas company of Japan in acquiring a minority stake in downstream gas trading businesses in cooperation with a public gas trading company (2016 – 2017).
  • Assisting a Korean chaebol related to cash call financing of an oil and gas block in Indonesia (2017).

 

Environment

  • Advising a multinational agrochemicals and seeds company in a potential environmental pollution issue (2017).
  • Advising a multinational oil and gas company related to environmental liabilities and remediation (2017).
  • Advising a multinational textile company in an air pollution case (2016).
  • Advising a multinational Indian textile company in environmental criminal litigation (2016).

 

Others

  • Representing a US based corporation in the structuring and development of new WiFi technology to be used in local flights business (2018 – 2019).
  • Representing a property company in its proposed initial public offering and pre-IPO restructuring program (2018).
  • Advising BNP Paribas and ADM Capital in the structuring, formation and successful closing of the USD95 million Sustainability Bond, which is the first corporate sustainability bond in Asia and the first sustainability bond in ASEAN (2017).
  • Assisting an American diversified multinational mass media and entertainment conglomerate in acquiring a minority stake in a public listed media company in Indonesia (2017).
  • Advising an American online social media and social networking in relation to content filtering requests from the Indonesian government (2017).
  • Assisting a real estate investment company in acquisition of majority units of an apartment tower in Jakarta (2017).
  • Advising a multinational pharmaceutical company in a commercial dispute (2016).
  • Advising an American multinational health care company in a product liability dispute (2016).
  • Assisting a Malaysian broadcasting and mass media company in a commercial arbitration proceeding (2016).
  • Participating in a regulatory survey commissioned by an American multinational technology company on dawn raids (2016).
  • Drafting general memos based on clients’ queries.

Publication and Media Interview

  • New Implementing Regulations to Implement OSS System, UMBRA – Strategic Legal Solutions Newsletter (Co-Author) (August 2018)
  • Compliance and Governance from A-Z, Second Edition, C.H. Beck in association with LexisNexis SA (Co-Author) (2017)
  • New Presidential Regulation to Accelerate Indonesian 35GW Power Generation Program, Baker & McKenzie Newsletter (Co-Author) (February 2016)