Peter Clements

Global law firm Freshfields is advising Sinar Mas on the proposed merger of PT Smartfren Telecom Tbk (‘Smartfren Telecom’) and its subsidiary PT Smart Telecom with PT XL Axiata Tbk (‘XL Axiata’), a subsidiary of Axiata Group Berhad with a combined pre-synergy enterprise value of over IDR104 trillion (approximately US$6.5 billion). The merger will combine the parties’ complementary capabilities to create a robust entity serving a significant portion of Indonesia’s telecommunications market. The merged entity will be called PT XLSmart Telecom Sejahtera Tbk and will remain listed on the Indonesia Stock Exchange. Completion of the merger is expected to take place in the first half of 2025, subject to regulatory and shareholder approvals, and customary closing conditions. The Freshfields team advising on the transaction was led by partners Philip Morgan and Jon Bowden and counsel Jeremy Tan, with support from associates Shavonne Oh and Daria Park. Additional support was provided by partner and global co-head of M&A Robert Ashworth and counsel Daniel Boyle. Tax advice was provided by partner Peter Clements. Specialist IP/ IT advice was provided by partner Richard Bird, counsel Cedric Lindenmann, and associate Harshavardhan Ganesan.

Dec 16

1 min

Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Affinity Equity Partners (Affinity) on the sale of Island Hospital to IHH Healthcare, a Kuala Lumpur-headquartered international healthcare group. Island Hospital is one of the leading healthcare providers in Malaysia, and a market leader in serving health travellers, attracting 1 in 3 inbound foreign patients. The purchase price values Island Hospital at an enterprise value of approximately RM4.2 billion (approximately US$966 million). The transaction is one of the largest in Malaysia in 2024, and is the largest control deal for a single hospital in Asia. The Freshfields team advising on the transaction was led by partner Simon Weller, senior associate Kathleen Chua and associate Shavonne Oh, together with partner Jon Bowden and counsel Daniel Boyle. Finance advice was provided by partner Dan French and tax advice was provided by partner Peter Clements and associate Mitchell Fraser. For more information, please contact Letitia Pillay, Senior Business Development Manager, Asia, Freshfields: E: letitia.pillay@freshfields.com T: (+65) 6908 0286

Sep 13

1 min

Global law firm Freshfields has advised the Abu Dhabi Investment Authority (“ADIA”) on its investment in a multi-asset continuation vehicle (“the CV”) that will acquire multi portfolio companies from CDH Fund V. A wholly owned subsidiary of the ADIA has acted as lead investor. The CV was formed to acquire a scaled and diversified portfolio from CDH Fund V, with a value of US$770 million as of 31 December 2024, each a leading player in its respective industry. The Freshfields team advising on the transaction was led by partners Philip Li and Tom Lawless, with support from counsels Ya Ma and James Visick, and associate Yichen Xing. Tax aspects of the transaction were advised by partners Peter Clements and Jill Gatehouse, counsel Chris Gotch, and Brandon Spears. Antitrust and FDI matters were advised by partners Hazel Yin (Freshfields RuiMin) and Rafique Bachour, counsel Tuna Tanik, and associates Dina Madadi and Siying Ruan (Freshfields RuiMin).

Jan 9

1 min

Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) is advising DP World, a world leader in global supply chain solutions based in Dubai, on its proposed acquisition of 100 per cent of the Cargo Services Seafreight business. The transaction involves the indirect acquisition of a majority stake in CN Logistics International Holdings Limited, a company listed on the Hong Kong Stock Exchange. The transaction is conditional on certain regulatory approvals and is expected to close later this year. The Freshfields team is led by partners Edward Freeman and Michael Hilton, supported by counsel Daniel Boyle, associates Ciara O’Loughlin, Max Chapman, Kelly Huang and Haohan Li. Support with due diligence was provided by various Freshfields offices across the network. Tax advice is provided by partner Peter Clements, senior associate Chris Gotch and associate Christophoros Tsangarides.

Apr 18

1 min

Global law firm Freshfields has advised Colt Data Centre Services (“Colt DCS”) on a joint venture with ESR to develop the first phase of a 130 MW hyperscale data centre site in Osaka, Japan. The first phase, comprising 65 MW, will be designed and built by the ESR–Colt DCS joint venture and operated by Colt DCS. Colt DCS is global provider of hyperscale, AI and large enterprise data centre solutions while ESR is an Asia-Pacific focused real asset owner and manager. The partnership brings together Colt DCS’ proven operational excellence and over 25 years of development experience in Japan with ESR’s strong in-market development expertise and supply chain partnerships to provide high-quality data centre solutions for customers. Our team advising on the transaction included partners Tomoko Nakajima and Simon Weller, counsel Daniel Boyle, senior associate Junya Suzuki and associate Kevin Fan. Regulatory advice was provided by partner Kaori Yamada, counsel Laurent Bougard and associate Hitoshi Nakajima. Tax advice was provided by partners Peter Clements and Claude Stansbury and senior associate Melissa Pear. IP and data privacy advice was provided by associate Harshavardan Ganesan.

Jan 22

1 min