Indonesia
About
As the largest economy in Southeast Asia, Indonesia has long attracted foreign investors seeking growth opportunities. For nearly 50 years, White & Case has been a trusted partner in navigating Indonesia's evolving legal landscape, combining global capabilities with deep local insights to deliver exceptional results for our clients.
Our team advises on complex cross-border matters spanning debt finance, mergers & acquisitions, investment funds, private equity, restructuring, capital markets (debt and equity), project development and finance, regulatory compliance, trade & sanctions, dispute management, and investigations. Whether structuring high-stakes transactions or resolving disputes in challenging jurisdictions, we provide strategic advice that empowers clients to achieve their business goals with confidence.
Led out of Singapore, our Indonesia Practice consistently ranks among the top in independent law firm surveys—a testament to our proven track record and commitment to excellence. With native Bahasa Indonesia speakers and sector specialists who possess decades of experience in this market, we work seamlessly alongside leading local law firms to ensure responsive and tailored solutions for our clients' needs. Distinct from firms with exclusive tie-ups with onshore legal advisers, we have the flexibility to select local counsel with the most appropriate expertise for each matter—ensuring our clients benefit from the best Indonesian advice combined with our insights, client relationship knowledge and global standards of service.
AWARDS & RECOGNITION
Tier 1 in Indonesia: Foreign Firms
(For 14 consecutive years)
Legal 500 Asia Pacific 2012-2025
Leading firm in Indonesia Corporate & Finance (International Firms)
(For 18 consecutive years)
Chambers Asia-Pacific 2008-2025
"The team has strong structuring expertise, good knowledge of market precedence and good rapport with sponsors and counsel."
"They are always able to provide solutions that fully consider local and global needs."
Chambers Asia-Pacific 2025
"It is a small but highly competent team. They offer a compelling proposition for Indonesian capital markets deals."
The Legal 500 Asia-Pacific 2024
"The lawyers we work with at White & Case can help us navigate the complexity of multiple aspects of our transaction, and they also provide us with other advice on complex issues that are inter-jurisdictional."
Chambers Asia-Pacific 2024
"White & Case has deep experience across various areas and the ability to handle complex transactions. The team is very commercially minded."
Chambers Asia-Pacific 2023
"The team has very deep knowledge of specific market regulations and market practices. The team is very collaborative to understand client needs and support, and adjust the output accordingly."
The Legal 500 Asia-Pacific 2022
"I am very impressed with the quick turnaround time, professionalism and support."
"We are satisfied with their ability to grasp the commercial aspect of the agreements besides the legal aspects. They complete the work in very limited time by working closely with us."
Chambers Asia-Pacific 2022
Experience
DEBT FINANCE AND FINANCIAL RESTRUCTURING AND INSOLVENCY
US$850 million financing for PT Centratama Telekomunikasi Indonesia Tbk.
Representation of the arrangers in the approximately US$850 million financing to (among others) PT Centratama Telekomunikasi Indonesia Tbk., an Indonesia-listed telecommunication, multimedia and internet service provider, for the acquisition of PT EPID Menara AssetCo, a subsidiary of Edge Point Singapore, which is wholly owned by global digital investor Digital Colony (renamed as "Digital Bridge").
Indonesian infrastructure acquisition financing
Representation of the mandated lead arranger, manager and bookrunner and lenders in a financing for a special purpose vehicle sponsored by Abu Dhabi Investment Authority and APG Asset Management N.V for the purpose of financing the acquisition of interests in infrastructure projects from an Indonesian state-owned entity.
PT Indointernet Tbk acquisition financing
Representation of the lenders in the senior secured bridge and revolving facility made available to Digital Edge (HK) SPVI Limited for the purpose of, among other things, financing a portion of the purchase price payable in relation to the acquisition of shares in PT Indointernet Tbk.
Combined investment into Geo Energy Resources
Representation of EP Resources AG in a combined investment into Geo Energy Resources Limited—a major Indonesian resources company listed on the Singapore stock exchange—by way of subscription for shares combined with a commitment for offtake of coal for the life of the TBR Mine and coupled with a standby prepayment facility for the purchase of coal.
PROJECT DEVELOPMENT AND FINANCE
US$3.1 billion Balikpapan Refinery Development Master Plan
Representation of PT Kilang Pertamina Balikpapan, a subsidiary of PT Pertamina (Persero), on the US$3.1 billion financing for the Balikpapan Refinery Development Master Plan (RDMP) project to upgrade the capacity and capabilities of its Balikpapan refinery in East Kalimantan, Indonesia. This deal won multiple awards including "Asia Pacific Petchem Deal of the Year" at the PFI Awards 2023.
US$2.4 billion naphtha cracker project
Representation of Lotte Chemical Corporation and PT Lotte Chemical Indonesia in the development and financing of a US$2.4 billion naphtha cracker project in the Banten Province of Indonesia.
Development of Abadi LNG Project
Representation of INPEX Corporation in relation to the development of the proposed US$20 billion Abadi LNG Project in Indonesia including advising INPEX in relation to all aspects of the 'dual' FEED processes for the onshore LNG Facilities and FPSO, and the procurement of rotating equipment and other long-lead-time items.
Financing for development of HPAL nickel smelters
Representation of the lenders in the project financing for the development of nickel smelters with high pressure acid leach ("HPAL") technology producing mixed hydroxide precipitate and chromite concentrate in Indonesia.
Indonesia's first telecommunications satellite PPP project
Representation of the lenders in the financing for PT Satelit Nusantara Tiga for the US$545 million Indonesian Government Multifunction Satellite Public Private Partnership (PPP) Project.
Financing of a solar manufacturing plant
Representation of the sponsors in the project financing for a solar manufacturing plant in Indonesia.
MERGERS & ACQUISITIONS AND PRIVATE EQUITY
US$6 billion merger of PT Indosat and PT Hutchison 3 Indonesia
Representation of the Ooredoo Group, a leading international telecommunications company, in the US$6 billion merger of PT Indosat Tbk. (Indosat Ooredoo), an Indonesian subsidiary of the Ooredoo Group, with PT Hutchison 3 Indonesia (H3I), an Indonesian subsidiary of CK Hutchison Holdings Ltd., to form PT Indosat Ooredoo Hutchison Tbk.
Investment in PT ABC Kogen Dairy
Representation of a Singapore-headquartered private equity firm in its investment in PT ABC Kogen Dairy, a vertically integrated dairy manufacturer producing yogurt and milk products under the brand KIN which also operates one of the largest dairy farms and the only A2-cow dairy farm in Indonesia.
Strategic collaboration with Global Infrastructure Partners
Representation of the Indonesia Investment Authority (INA) on its strategic collaboration with Global Infrastructure Partners (GIP). The partnership with GIP represents a significant step for INA as it establishes itself as a key player in the global investment landscape through advancing infrastructure investments in Indonesia and developing infrastructure in the country focused on energy, transportation, digital and utilities.
Investment in Indonesian nickel production project
Representation of China's Zhejiang Huayou Cobalt Co. in a tripartite collaboration agreement with global automaker Ford Motor Co. and nickel producer PT Vale Indonesia Tbk. to jointly invest in the Pomalaa Block High-Pressure Acid Leaching (HPAL) Project. This is the first integrated joint venture between a leading Chinese mining company and a western automaker.
Pre-IPO investment and the sale of shares to Hormel Foods Corporation
Representation of CVC Capital Partners in its pre-IPO investment, and subsequent sale of shares, in PT Garudafood Putra Putri Jaya Tbk., one of the largest food and beverage companies in Indonesia, to Hormel Foods Corporation.
Bangkok Bank's acquisition of Bank Permata Tbk.
Representation of Bangkok Bank Public Company Limited in its US$2.3 billion acquisition of a majority shareholding in Bank Permata Tbk. from Standard Chartered Bank and PT Astra International Tbk.
CAPITAL MARKETS
Indonesian IPO of PT Trimegah Bangun Persada Tbk. (Harita Nickel)
Representation of PT Trimegah Bangun Persada Tbk. (Harita Nickel), an Indonesian pure-play nickel company, in its initial public offering (IPO) on the Indonesian Stock Exchange (IDX), which included a Rule 144A/3(c)(7) and Regulation S offshore tranche, raising approximately IDR 10 trillion (US$672 million).
Indonesian IPO of PT Nusantara Sejahtera Raya Tbk (Cinema XXI)
Representation of the joint global coordinators and international selling agents on the IPO of PT Nusantara Sejahtera Raya Tbk (Cinema XXI), the largest cinema chain operator in Indonesia, on the IDX, which raised approximately IDR 2.25 trillion (US$150 million).
Republic of Indonesia's global US-dollar sukuk transaction
Representation of the arrangers and managers on the update of the Republic of Indonesia's (ROI) Rule 144A/Regulation S US$35 billion Trust Certificate Issuance Program and the subsequent US$3.25 billion dual-tranche sukuk offering under the Program.
Indonesian IPO of PT Bukalapak.com Tbk.
Representation of the underwriters in the IPO of PT Bukalapak.com Tbk. (Bukalapak) on the IDX, which included a Rule 144A/Regulation S offshore tranche, raising approximately IDR 21.9 trillion (US$1.5 billion). Bukalapak was the first Indonesian unicorn technology startup company listed on the IDX.
Rights offering by PT Bank Rakyat Indonesia (Persero) Tbk.
Representation of the international joint global coordinators in the IDR 95.92 trillion (US$6.7 billion) rights issue by PT Bank Rakyat Indonesia (Persero) Tbk., an Indonesian state-owned financial institution.
IFC's investment in GoTo
Representation of International Finance Corporation as investor in the offering of US$150 million 5.00% senior secured equity-linked bonds issued by Bhinneka Holdings (22) Limited, an independent Cayman entity. The bonds are exchangeable into Series A shares of PT GoTo Gojek Tokopedia Tbk (GoTo), a company listed on the IDX.
DISPUTE RESOLUTION, REGULATORY COMPLIANCE AND INVESTIGATIONS
Insurance claim related to an Indonesian company
Representation of a Chinese bank in an arbitration before the Singapore International Arbitration Centre (SIAC) in a dispute arising out of an insurance claim. The claim relates to a loan provided to an Indonesian company.
Indonesian coal mine dispute
Representation of the US subsidiary of a global engineering company in a potential US$75 million SIAC arbitration relating to the design and construction of equipment for a coal mine in Indonesia.
EPC dispute concerning oil installation
Representation of an oil & gas company in a major EPC dispute involving an oil installation in Indonesia.
Supplier code of conduct
Representation of an Indonesian joint venture in the mining sector regarding the drafting of its supplier code of conduct and the establishment of its compliance program to meet international compliance standards and US laws and regulations.
PRO BONO
US$35 million debt-for-nature swap with US and Indonesia to protect coral reef ecosystems
Pro bono representation of Conservation International regarding the signing of a groundbreaking debt-for-nature swap by and amongst the United States, Indonesia and other leading environmental non-governmental organizations (NGOs) to protect Indonesia's precious coral reef ecosystems by redirecting US$35 million of Indonesia's debt into an investment in coral reef conservation over the next nine years.
