O’Melveny & Myers LLP has represented UBS AG and CLSA as placement agents in connection with the block trade share sale by BSL Investment Inc. of 3.4 billion shares of PT Pakuwon Jati Tbk. at a price of IDR240 per share. The gross proceeds received by BSL Investment as selling shareholder totaled approximately IDR816,000,000,000 (US$85 million). The transaction was structured as a placement under Regulation S and Rule 144A under the United States Securities Act of 1933, as amended.
Pakuwon is a diversified real estate developer with projects in Jakarta and Surabaya. Pakuwon’s portfolio of prime properties includes retail, residential, commercial, and hospitality developments. Pakuwon was established in 1982 and has been listed on the Indonesia Stock Exchange (IDX) since 1989.
O’Melveny’s Singapore-based team was led by partner Andrew Hutton and associate Michele Discepola.
