"I advise clients on innovative and complex Indonesian corporate M&A transactions including cross-border transactions. I have on-the-ground experience and deep practical knowledge of the Indonesian regulatory landscape that enable me to offer technically sound guidance and commercially focused solutions in challenging situations. Clients trust me to handle high-stakes, first-of-their-kind transactions, often involving multiple regulators and stakeholders."
Overview
Teguh is a corporate/M&A partner based in Jakarta. He is an Indonesia-qualified corporate lawyer and a registered capital markets lawyer with the Indonesian Financial Services Authority (OJK). He has more than 15 years’ experience advising corporates, private equity sponsors and sovereign wealth funds on public and private M&A and joint ventures, with a particular focus on financial services, TMT/digital economy and real estate.
Work highlights
Teguh has led on many market-leading transactions. These include advising:
- Bytedance/TikTok on its strategic partnership with, and its 75.1% investment into PT Tokopedia, a leading e-commerce platform previously controlled by IDX-listed PT GoTo Gojek Tokopedia Tbk, the largest digital ecosystem in Indonesia.
- Indosat Ooredoo Hutchison on (i) its sale and lease back of 3,100 telecom towers to Protelindo and Mitratel, and (ii) its US$750m sale and leaseback of approximately 4,000 telecom towers to EdgePoint Infrastructure.
- I Squared’s Indonesian fibre optic platform on its proposed acquisition of more than 2,700km of fibre optic network assets from Indonesian internet service providers pursuant to a sale and leaseback arrangement.
- Fullerton Financial Holdings on its US$4.56bn complex three-stage divestment to The Bank of Tokyo-Mitsubishi UFJ, Ltd (BTMU) of its 73.8% stake in Bank Danamon.
- Bank Danamon on the sale, via a competitive auction process, of a controlling stake in Adira Insurance to Zurich, and the entering into of long-term distribution agreements by Adira Insurance with Bank Danamon and Adira Finance, respectively.
- UOB Asset Management on its acquisition of an Indonesian asset management company, PT PG Asset Management (now PT UOB Asset Management Indonesia).
- Archipelago Capital on its acquisition of a controlling stake in Radana, a listed Indonesian multi-finance company, via acquisition of secondary and primary shares (rights issue), and advising on the mandatory tender offer (MTO) process.
- Government of Singapore Investment Corporation (GIC) on its forward purchase transaction of a 47-storey office tower in Jakarta (Capital Place Office Tower) developed by Rajawali Group, and its subsequent sale to an Indonesian conglomerate group.
- NWP Property (the largest independent shopping center platform in Indonesia backed by Warburg Pincus) on its proposed acquisition a mixed-use development (mall and hotel) in Depok, West Java.
- A sovereign wealth fund: advising, as part of a consortium led by CVC, on the acquisition of a controlling stake in PT Siloam International Hospitals Tbk. via a voluntary tender offer (VTO)
- Unilever on the separation of its ice cream business in Indonesia, a material affiliate transaction requiring independent shareholders’ approval.
Recognition
Teguh is ranked by Chambers for TMT and Corporate/M&A in Indonesia.
Education Qualifications and Languages
Teguh studied law at the University of Indonesia.
He speaks fluent English and Bahasa.