Clifford Chance advises on US$383 million equity placement for Indonesia’s Delta Dunia Makmur following Buma acquisition

Hong Kong/ – Lawyer Announcements Daily – Leading international law firm Clifford Chance has advised CLSA and Macquarie as joint global coordinators, along with other book runners PT Danareksa Sekuritas and PT Bahana Securities, on the placement of 38 per cent of PT Delta Dunia Makmur Tbk (Delta) – a sale that raised US$383 million for the selling shareholder.
Jakarta-listed Delta recently completed the acquisition of major Indonesian mining services company PT Bukit Makmur Mandiri Utama Tbk (Buma). Clifford Chance also advised on a high yield bond and financing package for this transaction.

Headquartered in Jakarta, Buma is a major service provider to coal miners and producers across Indonesia.

“The placement represents the last stage of a complex transaction which, now completed, gives Delta and its shareholders access to one of Indonesia’s most important natural resources companies,” said partner Alex Lloyd.

“We have seen great interest from clients in opportunities in the Indonesian market. The success of this transaction – and the number of financial institutions that took part in the placement, bond and financing – suggest that this interest is likely to continue.”
Hong Kong partner Alex Lloyd led the team advising the banks on the placement, assisted by senior associate Eu Jin Pok and associates Naiting Cao and Corey Zhang.

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