Tumbuan & Partners assisted PT Hutama Karya Infrastruktur (HKI) to acquire majority shares of PT Bhirawa Steel

Many congratulations to PT Hutama Karya Infrastruktur (HKI) as the buyer and also to PT Hakaaston (HKA) as the seller of PT Bhirawa Steel’s shares in closing the deal for HKI’s acquisition of 37% shares of PT Bhirawa Steel in early July 2022.

HKI and HKA are the subsidiaries of PT Hutama Karya (Persero) which is widely renowned as one of the leading state-owned companies in Indonesia, respectively operating within the infrastructure sector and manufacture sector.

This transaction was a major milestone for both parties, creating a long-term partnership that shall serve to strengthen the infrastructure industry in Indonesia.

Led by our senior partner, Jennifer B. Tumbuan and senior associates Mada Herpadma Kusumasidarta and Risman Yansen Mario, T&P represented HKI in conducting a legal due diligence and in drafting the relevant transaction documents.

It has been a great pleasure for us to complete this deal. We would also like to thank our clients for their continued trust in us.

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