HHP Law Firm advised Indonesia’s sovereign wealth fund, Indonesia Investment Authority ("INA"), and China’s Silk Road Fund ("SRF"), on their joint investment in the Indonesia-listed pharmaceutical producer and distributor PT Kimia Farma Tbk ("Kimia Farma") and its unit PT Kimia Farma Apotek ("Kimia Farma Apotek").
Subject to the fulfilment of all conditions precedent, at closing, INA and SRF will acquire a 40% stake in Indonesian state-owned pharmaceutical company PT Kimia Farma’s subsidiary, Kimia Farma Apotek. The investment will be used to fund Kimia Farma Apotek’s strategic business expansion, working capital needs, and initiatives to further improve operational efficiency.
INA and SRF will also participate in Kimia Farma’s rights issue, which proceeds will be used to support the expansion plans and improve healthcare services in Indonesia.
The HHP Law Firm team was led by Gerrit Jan Kleute, with support from Christofer Chandra, Rahel Manurung, Monica Tjahjono, and lawyers from the Jakarta office and the broader Baker McKenzie's regional team.