Herbert Smith Freehills's longstanding associate firm Hiswara Bunjamin & Tandjung (HBT) has advised global automotive distributor Inchcape plc on its acquisition of the Mercedes-Benz assembly and distribution business operations in Indonesia.
Inchcape will acquire 70% of the equity of existing Mercedes-Benz subsidiaries in Indonesia while its Indonesian partner PT Indomobil Sukses Internasional Tbk (Indomobil) will acquire the other 30%. The transaction remains subject to customary closing conditions. Completion is expected later this year.
David Dawborn, partner at Herbert Smith Freehills and HBT senior international counsel, said, “This deal exemplifies our market-leading cross-border work for multinationals investing in Indonesia. We are delighted to be assisting Inchcape on its expansion in Asia.”
The deal team was supervised by Herbert Smith Freehills partners and HBT senior international counsels David Dawborn and Cellia Cognard, and led by Herbert Smith Freehills senior associate and HBT international consultant Brandon Van Slyke. HBT senior associate Rebecca Ayuyantrie and associates Fransiska Larasati, Josua Hutauruk, Dessy Tesha Arisanti, Syafia Rizky Hanifah and Yorris Leander also assisted on aspects of the transaction. HSF London Partner Veronica Roberts advised on global merger control matters in connection with the transaction. HBT previously advised Inchcape in relation to its initial JLM.