Herbert Smith and HBT lead $400m sale of Indonesian mining interest
Herbert Smith and its associated Indonesian law firm Hiswara Bunjamin & Tandjung are advising Banpu - Thailand’s biggest coalminer - on the second largest block trade to take place in the last ten years.
The firm's international team is led by partners John Moore and Siddhartha Sivaramakrishnan, while the Singapore team is led by Kwok Hon Yee and the Indonesian team is led by David Dawborn and Iril Hiswara.
Under the deal Banpu will sell an 8.7% stake in its Indonesian subsidiary, PT Indo Tambangraya Megah Tbk (ITM) for a price of US$400 million. Banpu will remain the largest shareholder with 65% ownership of ITM.
Clifford Chance is retained as counsel to bookrunner Goldman Sachs, with a team led by Joan Janssen and Crawford Brickley.
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