You are here

Cellia Cognard


Cellia Cotan Cognard is a corporate and M&A specialist, seconded to Herbert Smith Freehills’ associate Indonesian law firm Hiswara Bunjamin & Tandjung



With more than 13 years of experience in Sydney and Jakarta, Cellia specialises in cross-border public and private M&A, private equity, joint ventures and foreign investment transactions, with a particular focus on the consumer, pharma/healthcare and financial services/fintech sectors.

She is also specialises in data protection laws in Indonesia.

Cellia is ranked as a Rising Star and Next Generation Lawyer for Corporate and M&A in Indonesia (Legal 500 Asia Pacific 2018-2022).

Cellia has advised:

  • Bank Permata in relation to the proposed c. USD$3 billion acquisition by Bangkok Bank Public Company Limited of approximately 89.12% in listed Indonesian bank PT Bank Permata Tbk from PT Astra International Tbk and Standard Chartered Bank
  • LinkAja, the Indonesian state-backed digital payment platform, on a strategic investment by Grab and Series B fundraising;
  • Docta Aspen, Australian healthcare providers, on the proposed US$1 billion healthcare project to build hospitals and provide supporting healthcare services to West Java Province and joint venture with Indonesian state-owned enterprise PT Jasa Sarana; 
  • Dyson, British technology company which manufactures household appliances, in relation to the Indonesian regulatory framework applying to the distribution of medical equipment in Indonesia;
  • Temasek on its US$4.56 billion 3-step divestment of a 73.8% stake in an Indonesian listed bank, Bank Danamon, to MUFG Bank, Ltd
  • KKR on its acquisition of Unilever’s margarine and spreads business in Indonesia as part of the US$8 billion global acquisition of Unilever’s margarine and spreads business, and subsequent establishment of Upfield group subsidiaries in Indonesia
  • General Atlantic on its first investment in Indonesia (US$145 million) in the food and beverage division of publicly listed Mitra Adiperkasa, Indonesia’s leading retailer and food and beverage operator
  • CVC Capital Partners on its US$125 million pre-IPO bond and option investment in the sports related retail business of Jakarta listed Mitra Adiperkasa, one of Indonesia’s largest consumer retail business
  • The Carlyle Group on its incorporation in and initial investment into Indonesia and general regulatory compliance with Indonesian laws
  • GIC on its forward purchase of Capital Place, an office tower in Jakarta developed by the Rajawali group. This is a landmark real estate transaction in Indonesia, as it was the first forward purchase of an entire office tower by a foreign investor in Indonesia (where the foreign investor takes on part of the development risks of a built-to-suit development)
  •, a Chinese e-commerce giant, and Singapore's Provident Capital Partners as lead investors in the US$2 billion Series F investment funding round in GO-JEK, Indonesia's first unicorn company, specialising in ride-hailing and logistics
  • Mars, adidas and Zalora on legal and regulatory aspects of their respective business operations in Indonesia, and on general regulatory compliance issues



Cellia is trilingual (Indonesian, French and English) and dual qualified as a solicitor in New South Wales (Australia) and advocate (Peradi) in Indonesia.

Key Sectors

Related content

22nd November 2022
2022 is a milestone year for data privacy and cyber security laws developments across Southeast Asia.