Assegaf Hamzah & Partners (AHP) retains its tier one ranking under the leadership of Fikri Assegaf. A client says: "Fikri is the main contact person I deal with and is deeply knowledgeable and exceptionally capable as a legal professional....
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Assegaf Hamzah & Partners (AHP) retains its tier one ranking under the leadership of Fikri Assegaf. A client says: "Fikri is the main contact person I deal with and is deeply knowledgeable and exceptionally capable as a legal professional." A rival partner went further, saying: "Fikri's problem solving skills are extraordinary."
Showing the team is not a one man band, Bono Daru Adji is also praised as "a very experienced lawyer with excellent communication skills," according to one client, adding: "the team at AHP is very creative in solving problems." Another client adds: "We have a very close relationship to AHP and they are our go-to firm for work in Indonesia. Therefore almost everything we do in Indonesia we do in conjunction with them, from IPOs and bond restructurings to compliance investigations and M&A work."
Last year the capital markets team represented the standby buyers and global book-runners in an $11 billion rights issue by Bank Mandiri. This was the biggest rights issue of 2010 in Indonesia after Bank Negara Indonesia and reinforced AHP's leading role in the government privatisation program.
The team also represented PT Indosat, one of Indonesia's largest telecommunications companies, on the issue of $650 million, 7.375% senior notes, one of the largest debt issuances in 2010.
The M&A team advised chemicals producer PT Chandra Asri on its merger with PT Tri Polyta Indonesia. As Indonesia's biggest producer of polypropylene resins, this created Indonesia's largest publicly listed petrochemicals company valued at over $1.2 billion.
Another highlight was representing Jakarta-based financial services provider Recapital Group in connection with its acquisition of a 90% stake in PT Berau Coal, the fifth largest coal producer in Indonesia. This transaction ended as one of the year's biggest deals with a value of almost $1.5 billion.
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"Assegaf Hamzah & Partners (AHP) are responsive and proactive and able to suit clients' interests," says a client of the firm. "The team is also well staffed and well-trained," comments another....
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"Assegaf Hamzah & Partners (AHP) are responsive and proactive and able to suit clients' interests," says a client of the firm. "The team is also well staffed and well-trained," comments another.
The banking team is also recognised by peers: "AHP always keep updating on commercial issues and are able to interface well with the matter at hand. Their particular legal expertise is in corporate investment. They also have an excellent network and communication with international lawyers."
Leading the banking team is partner Fikri Assegaf, who clients rate highly: "His strengths are his capability of making excellent legal opinions and finding actual legal basis for the legal opinion in the negotiation process. He has excellent legal knowledge and expertise on corporate investment. His outstanding local knowledge in the industry is first class."
This year saw the team advise Tower Bersama Group in a $2 billion bond issuance coordinated by Overseas-Chinese Banking and United Overseas Bank.
Other highlights included advising KPMG Singapore as receiver of Chuan Soon Huat on bankruptcy proceedings against PT Cemerlang Selaras Woodworking. The client is a shareholder of the bankrupt debtor.
Finally, in mid-2011 the firm was busy advising Supreme Energy Indonesia, a geothermal energy company, in relation to joint ventures worth $200 million with other international power companies for the development of three geothermal power plants.
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