Ashurst and Baker Botts are advising on an asset finance deal involving a liquefied natural gas tanker, worth up to $1.4 billion. Oslo-based Höegh LNG Ltd. will supply a specialized vessel used for storing and converting LNG back into gas to Indonesia’s PT Perusahaan Gas Negara. The deal, which also includes a mooring system, has a 20-year term with two optional five-year extensions. Ashurst’s team acting for Perusahaan Gas is led by Singapore partner Philip Thomson. The company’s in-house counsel on the deal is Heri Yusup. Baker Botts Hong Kong partner Russell Wilkinson is advising Höegh, which has turned to Jakarta-based Adnan Kelana Haryanto & Hermanto for Indonesian counsel. In-house lawyer Camilla Nyhus-Møller is also advising on the deal. [Read full story]
Singapore firm Stamford Law Corp. and Latham & Watkins are advising on a $1.2 billion reverse takeover by Indonesian energy and infrastructure group PT Dian Swastatika. Singapore-based investment holding company United Fiber System Ltd. will gain a 67-percent stake in the Indonesian company’s coal-mining subsidiary, PT Golden Energy Mines Tbk. In exchange, Dian Swastatika will receive a 93-percent interest in United Fiber. The deal is subject to regulatory approval. Yap Lian Seng and Elizabeth Kong are leading Stamford Law’s team for United Fiber, while Jakarta-based LasutLay & Partners is advising on Indonesian law. Dian Swastatika is being advised by Latham & Watkins Singapore partner Sin Chei Liang and Jakarta-based Makes & Partners. [Read full story]
