Tumbuan & Partners acted as independent local counsel for PT Galley Adhika Arnawama as a new shareholder to acquire 1,341,955,000 shares owned by Indika Group

Tumbuan & Partners acted as independent local counsel for PT Galley Adhika Arnawama as the purchaser (new shareholder) in its plan to acquire 1,341,955,000 shares as collectively owned by Indika Group and a foreign shareholder which represent 76.68% of the total issued and paid up capital of PT Mitrabahtera Segara Sejati Tbk.

Led by Jennifer B. Tumbuan, Sanddy Gunawan, and Raden Widyantara Priambodo,   T&P was involved in conducting the legal due diligence on PT Mitrabahtera Segara Sejati Tbk. and in preparing the transaction documents, including newspaper announcements, disclosure of information, and related documents as required by the Indonesia Financial Service Authority (“OJK”) in relation to the mandatory tender offer process in accordance with the capital market regulations.

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