Mr. Giffy Pardede
Giffy joined ABNR as an associate in March 2009, and was made partner on 1 January 2018. He is a 2005 graduate of the University of Indonesia’s law school, majoring in economic law. A member of the Indonesian Bar Association (Peradi), he focuses his practice on Corporate/M&A, Banking & Finance, Project Finance, FDI and Natural Resources. Giffy also regularly contributes articles on topical legal issues to the Indonesian media.
Key milestones in Giffy’s career include assisting private equity firm KKR & Co. Inc. (known formerly as Kohlberg Kravis Roberts & Co. and KKR & Co. L.P.) with one of their first major M&As in Indonesia, in 2013; advising Sumitomo Mitsui Banking Corporation on its major investments in two of the largest auto-finance companies in Indonesia in 2015; and assisting the Indonesian buyers with their 2016 debt-based, USD2.6 billion acquisition of PT Amman Mineral Nusa Tenggara (previously PT Newmont Nusa Tenggara), the owner of the second-largest copper and gold mine in Indonesia (this transaction was recognized as 2017 Debt Market Deal of the Year by Asian Legal Business magazine). Also in 2016, he advised Indonesia’s upstream oil and gas regulator, SKKMIGAS, on the “trustee borrowing scheme” financing of the ‘Tangguh Train 3’ LNG processing plant expansion. In addition, he has represented lenders and investors during a series of financing rounds for Go-Jek, a homegrown, Indonesian, app-based, ride-hailing transportation provider that became the country’s first start-up to gain unicorn status.
Representative Work Highlights 2017-2018
- Acted for Sumitomo Mitsui Banking Corporation in relation to its USD72 million investment in approx. 35% of the equity in each of two Indonesian auto-financing companies, PT Summit Oto Finance and PT Oto Multiartha;
- Acted for U.S.-based General Electric in relation to the USD23.7 million sale of its Indonesian water technology assets as part of the USD3.4 billion global sale of its water-processing business to France-based GDF Suez;
- Acted for U.S.-based General Electric in relation to the sale of its Indonesian Industrial Solutions assets as part of the USD2.6 billion global sale of its Industrial Solutions business to Switzerland-based ABB Group;
- Acted for Korea Investment & Security Co. Ltd. (KIS), a S. Korean provider of financial and merchant banking services, in respect of all aspects of its acquisition of 75% of the share capital of Indonesian securities brokerage firm PT Danpac Sekuritas for a consideration of USD36.6 million;
- Acted for South Korea-based commodities companies LG International, a member of LG Group, in relation to its acquisition of three Indonesian palm plantation companies, in Sekadau, West Kalimantan;
- Counsel to Indonesian resources company PT Amman Mineral Internasional for its debt-financed acquisition of a majority interest in PT Newmont Nusa Tenggara, which operates the Batu Hijau copper-gold mine on Sumbawa island, Nusa Tenggara Barat province, the second-largest mineral ore mine in Indonesia. In addition to assisting with the M&A portion of the deal for the acquisition of majority control of three separate entities, ABNR also assisted with the financing portion, which involved a two-tier financing structure (at buyer and mezzanine levels). The deal, which was worth a total of USD4.2 billion, was recognized as 2017 Indonesia Debt Market Deal of the Year by Asian Legal Business (ALB);
- Counsel to Indonesia’s upstream oil and gas regulator SKKMigas in relation to the financing of the Tangguh Train 3 LNG processing plant development. The financing consisted of three separate tranches, each of which involved multiple lenders. The project’s overall transaction value was reported to be at USD8 billion.
- Assisting ICBC Bank with proposed financing for the approx. USD1.5 billion Signature Tower project, which is being developed by PT Grahamas Adisentosa, a subsidiary of Artha Graha Group, and will be the tallest building in Indonesia at 111 stories when completed (currently ongoing);
- Advised HSBC Trust Services Singapore in relation to the acquisition of real property comprising a mall and hospital in Bau-Bau township, Buton island, Southeast Sulawesi, Indonesia, by an Indonesian subsidiary of Singapore-listed First Real Estate Investment Trust (First REIT); HSBC Trust Services Singapore was the trustee of First REIT at the time;
- Advised HSBC Trust Services Singapore in relation to the SGD32.2 million acquisition of PT Mitra Anda Sukses Bersama, the owner of a four-storey shopping mall in Kendari, Southeast Sulawesi, by vehicles of the Singapore-based REIT, Lippo Malls Indonesia Retail Trust (LMIRT); HSBC Trust Services Singapore was the trustee of LMIRT at the time.