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Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills has advised global automotive distributor Inchcape plc on its acquisition of the Mercedes-Benz assembly and distribution business operations in Indonesia. The deal was signed in March 2023 and closed on 29 September 2023.
Inchcape acquired 70 percent of the equity of existing Mercedes-Benz subsidiaries in Indonesia while its Indonesian partner PT Indomobil Sukses Internasional Tbk (Indomobil) acquired the other 30 percent.
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 have successfully assisted Inchcape on its expansion in Asia.”
The deal team was supervised by our senior international counsels David Dawborn and Cellia Cognard, and led by international consultant Brandon Van Slyke. Senior associate Rebecca Ayuyantrie and associates Dessy Tesha Arisanti, Syafia Rizky Hanifah and Josua Hutauruk also assisted on the transaction. Of Counsel Randitya Adiguna advised on competition law aspects of the transaction. Herbert Smith Freehills London partner Veronica Roberts advised on global merger control matters in connection with the transaction.
HBT previously advised Inchcape on its joint venture with the Indomobil group to facilitate JLR's re-entry into the Indonesian market.