Our warm congratulations to PT Wijaya Karya Industri & Konstruksi (WIKON), a subsidiary of PT Wijaya Karya (Persero) Tbk. (WIKA) for the signing of the share sale and purchase agreement with PT Industri Baterai Indonesia (IBC) in respect to the acquisition of PT WIKA Industri Manufaktur (WIMA) by IBC.

The signing of the shares sale and purchase agreement is part of the Ministry of State-Owned Enterprise’s corporate strategic plan in building an electric vehicle ecosystem in Indonesia and was personally witnessed by the deputy of the Minister of State-Owned Enterprise.  

Tumbuan and Partners (T&P) had the privilege in acting as the leading legal counsel for WIKON in structuring, drafting and finalizing all the transaction documents for this challenging transaction. T&P team was led by our senior partner, Jennifer B. Tumbuan, and assisted by senior associates Mada Herpadma KusumasidartaRisman Yansen Mario, and Edynisura Navire Tuahta Tarigan with the full support of other members of T&P. Our sincere gratitude for all parties and team members involved, and especially for the WIKON team for providing us with the opportunity to represent them in this deal.

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