"Very commercially minded and innovative, prepared to look at things from a different angle," comments one client of the firm. The ability to continuously implement current developments of laws and regulations, especially in the capital markets, is often praised....
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"Very commercially minded and innovative, prepared to look at things from a different angle," comments one client of the firm. The ability to continuously implement current developments of laws and regulations, especially in the capital markets, is often praised. One rival law firm comments: "I think LGS is the dean of capital markets."
The firm has been active in advising on several acquisition transactions that are still on-going, among them advising a mining services company on the proposed acquisition of a 30% stake in group of coal mining companies in Sumatera and South Kalimantan.
Other capital markets transactions include advising a company in the acquisition of a group of shipping companies in Indonesia and Singapore, which involved the rights issue of the target company and renouncement of the seller's entitlement to subscribe for shares to be issued in the rights issue.
Another highlight was advising PT Recapital Securities as the standby buyer in the subscription of shares in connection with the rights issue of PT Bank Eksekutif International worth Rp512 billion ($60 million)
In M&A the team advised PT Recapital Advisors as the buyer in the acquisition of PT Bank Eksekutif for $40 million. This acquisition involved the structure of rights issues to the bank and renouncement of shareholders' entitlement to PT Recapital Securities
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Lubis Ganie Surowidjojo "handles all restructuring work in Indonesia", says a rival partner. The team has a solid record advising on bank restructurings and has acted as counsel to the Indonesian Bank Restructuring Agency....
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Lubis Ganie Surowidjojo "handles all restructuring work in Indonesia", says a rival partner. The team has a solid record advising on bank restructurings and has acted as counsel to the Indonesian Bank Restructuring Agency.
Satisfied clients note that: "The partner you engage on a deal works on the deal and completely oversees and carries the work. As a result, the work gets done extremely well and in an efficient and productive manner."
The past year has seen the team advise PT Recapital Advisors as the buyer in a $40 million acquisition of PT Bank Eksekutif. This acquisition is for the purpose of a corporate rescue of the Bank and involved the structure of a rights issue and renouncement of shareholders' entitlement to PT Recapital Securities.
Lubis Ganie Surowidjojo "understandably receives the majority of the restructuring work in Indonesia", says a competitor.
Other notable transactions for the firm include advising the financing for the Rp350 billion ($41 million) acquisition of PT Bank Pundi Indonesia (formerly PT Bank Eksekutif Internasional - Recapital). This transaction was had a complex funding structure and had to comply with various Bank Indonesia requirements regulating acquisitions of an Indonesian bank.
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