Linklaters helps seal $1.2bn Indonesian port deal

0
29
Linklaters helps seal $1.2bn Indonesian port deal

Linklaters advised Emirati multinational logistics company DP World on its joint venture with Indonesia’s conglomerate Maspion Group on the proposed development and operation of a US$1.2 billion international container port in Gresik, East Java.

The firm also advised DP World in a joint venture arrangement with a Quebec-based institutional investor, Caisse de dépôt et placement du Québec (CDPQ), and Maspion Group in relation to the container port.

The project is the first joint venture in the Indonesian transportation sector involving a foreign direct investor partner and an Indonesian private company, and marks the first infrastructure investment in Indonesia for CDPQ.

Linklaters’ energy and infrastructure partner David Holme in Jakarta, and corporate/M&A partner Nicholas Edwards in Abu Dhabi, led the team, with support from Widyawan & Partners’ counsel Made Satwika in Jakarta, and managing associates Jessica Chilton in Hong Kong and Robert Ferag in Singapore.

“This project is expected to greatly enhance the infrastructure development and accelerate the rapidly growing economy of Indonesia,” said Holme.

“We are honoured to have had the opportunity to support DP World on this strategic partnership and leading regional transaction. Our team looks forward to continuing working with DP World on this project and other opportunities in the region.”

The joint venture company will be the sole operator of the port. DP World and CDPQ will also work with Maspion to develop an integrated industrial and logistics park adjacent to the port, with an initial land area of 110 hectares, and scope for future expansion.