Practice Focus

Capital Market, State-owned Enterprises

 

Sub-Practice & Industry

Merger & Acquisition, Mining, Corporate

 

Language

Indonesian & English

Btari Divergensi

ASSOCIATE

+62 21 5082 0973

btari@umbra.law

Btari has assisted local and major multinational institutions in transactional and advisory matters involving capital market, state-owned enterprises, mergers & acquisition, mining, and general corporate.

PROFILE DETAILS

Education

  • Universitas Indonesia, Faculty of Law, Bachelor of Laws (SH) (cum laude) (2017).

REPRESENTATIVE DEALS

Capital Market

  • Assisting PT PLN (Persero) (PLN) in its offering of Rp30 trillion bonds and Ijarah Sukuk as part of its 2020-2022 shelf offering program (Penawaran Umum Berkelanjutan) (2020-2022).
  • Assisting a major state-owned telecommunication company in its offering of bonds as part of its continuous local bonds offering (ongoing).
  • Assisting a major mining company group in its debt restructuring and rights issue (ongoing).
  • Assisting PT Jasa Marga (Persero) Tbk in its offering of Commercial Paper with a maximum value of Rp500 billion (2020).
  • Assisting PT Pertamina (Persero) (Pertamina) in its offering of USD10 billion Global Medium-Term Notes program (2019) (nominated as Debt Market Deal of the Year by Asian Legal Business – Thomson Reuters in 2019).
  • Assisting PLN in its offering of Rp20 trillion bonds and Ijarah Sukuk as part of its 2018-2020 shelf offering program (Penawaran Umum Berkelanjutan) (2018-2020) (nominated as top three finalist of Debt Market Deal of the Year by Asian Legal Business – Thomson Reuters in 2018).
  • Assisting a budget hotel chain company in its pre-Initial Public Offering restructuring and Initial Public Offering process (2019).
  • Assisting PT Rajawali Nusantara Indonesia (Persero) as controlling shareholder and standby buyer in PT Phapros Tbk. right issues (2018).
  • Assisting PT Natura City Developments Tbk. in its initial public offering of Rp312 billion and pre-IPO restructuring program (2018).

 

Stated-Owned Enterprises Practice and Corporate Compliance

  • Assisting Ministry of State-owned Enterprises, PT Bio Farma (Persero), and PT Industri Nuklir Indonesia (Persero) for the establishment of Indonesian State-Owned Pharmaceutical Holding Phase II (ongoing).
  • Assisting Ministry of State-owned Enterprises, PT Hotel Indonesia Natour (Persero), PT Patra Jasa (Persero), PT Pegadaian (Persero), PT Aero Wisata, and PT Wijaya Karya Realty for the proposed establishment of Indonesian State-Owned Hotel Holding (ongoing).
  • Assisting Ministry of State-owned Enterprises and various State-owned Companies in construction and infrastructure sector for the proposed establishment of Indonesian State-Owned Holding Company in infrastructure sector (BUMN Holding Project) (ongoing).
  • Assisting Ministry of State-owned Enterprises and various State-owned Companies in housing sector for the proposed establishment of Indonesian State-Owned Holding Company in housing sector (BUMN Holding Project) (ongoing).
  • Assisting Ministry of State-owned Enterprises and various State-owned Companies in pharmacy sector for the proposed establishment of Indonesian State-Owned Holding Company in pharmacy sector (BUMN Holding Project) (ongoing).
  • Assisting Ministry of State-owned Enterprises, PT Perusahaan Pengelola Aset (Persero), and various State-owned Companies for the proposed establishment of Restructurisation – Indonesian State-Owned Holding Company (BUMN Holding Project) (ongoing).
  • Assisting Ministry of State-owned Enterprises and various State-owned Companies for the proposed establishment of National Defense and Hightech Industry Indonesian State-Owned Holding Company (BUMN Holding Project) (ongoing).
  • Assisting PT Perusahaan Gas Negara Tbk for the establishment of State-Owned Holding Company for Oil & Gas (2018) (nominated as M&A Deal of the Year by Asian Legal Business – Thomson Reuters in 2018).

 

Mergers & Acquisition

  • Assisting PT Telekomunikasi Indonesia (Persero) Tbk 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).
  • Assisting PT Dayamitra Telekomunikasi in its Rp1.2 trillion takeover of a major local telecommunication tower company (2019).
  • Assisting PT Telekomunikasi Indonesia (Persero) Tbk and PT Telekomunikasi Seluler (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).
  • Assisting 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 (2019-2020).
  • Assisting a major power and oil-and-gas group company in its distressed acquisition and restructuring of MaxPower Group, an international power company with total installed gas power plant assets amounting to 424MW worth of capacity (installed, rental and IPP) that span across the South East Asia region (2018-2019).
  • Assisting PT Perusahaan Gas Negara Tbk in its proposed US$2.8 billion acquisition of PT Pertamina Gas (a subsidiary of PT Pertamina (Persero)) (2018) (nominated as M&A Deal of the Year by Asian Legal Business – Thomson Reuters in 2018).
  • Assisting a major gas company in its proposed acquisition of a renowned electricity company (ongoing).

 

Mining, Power, and Energy

  • Assisting a state-owned Chinese mining company in relation to due diligence and proposed acquisition of Indonesian non-ferrous metal mining company (2019).
  • Assisting an Indonesian nickel mining company in its acquisition of nickel mines in Sulawesi (2018).
  • Assisting a subsidiary of PT Indonesia Power and Golden Concord Ltd, PT GCL Indo Tenaga, in the financing of 2×100 MW Kalbar-1 coal-fired power plant project, a project financed by China Construction Bank and backed by China Export & Credit Insurance Corporation (Sinosure) (ongoing).
  • Assisting PJB and sponsor in the development of 840MW Sumbagut 134 combined cycle gas turbine power project (ongoing).
  • Assisting Indonesia Power in the drafting and negotiation of contracts with its strategic partner for reinvestment, operation and maintenance of two major power plants having capacity of more than 1,000 MW (ongoing).
  • Assisting Novomet FZE in supervising the implementation of the Strategic Alliance cooperation with PT Pertamina EP, including attending foreign employment issues (ongoing).
  • Assisting Apexindo Group in its proposed acquisition of an Indonesian nickel mining company (ongoing).

 

Corporate

  • Preparing and reviewing corporate documents for initial due diligence.
  • Addressing client inquiries related to laws and regulations on corporate matters.