TnP Law Firm Assisted Mitratel on 1,500 km Fiber Optic Acquisition
We are delighted to extend our heartfelt congratulations to PT Dayamitra Telekomunikasi Tbk (Mitratel), Southeast
On 28 June 2024, TnP Law Firm advised PT Vale Indonesia Tbk (PTVI) in its IDR1,8 trillion right issue as part of PTVI’s divestment obligation under the laws and regulations in the mining sector. In respect of this divestment, the Republic of Indonesia (Government) has appointed Mining Industry Indonesia (MIND ID) to acquire all of the divestment shares offered by PTVI to the Government.
The divestment transaction, among others, was carried out by MIND ID purchase and accept the transfer from Vale Canada Limited, Sumitomo Metal Mining, and Vale Japan Limited for all the rights that will be their portion in the rights issue.
Following such transfer of the rights, MIND ID has exercised all such rights and the rights that will be MIND ID’s portion in the rights issue (New Shares Transaction). Simultaneously with the New Shares Transaction, MIND ID has also purchased and received the transfer of some of the shares owned by Vale Canada Limited, Sumitomo Metal Mining, and Vale Japan Limited in the Company (Existing Shares Transaction). Following the completion of the implementation of the New Shares Transaction and Existing Shares Transaction, MIND ID has acquired an additional 14% of shares in the Company, thus MIND ID becomes the largest shareholder in the Company with a shareholding of 34%.
Led by our Partner Ken Prasadtyo, and Associate Partner Brahmantyo Jatiwidianto, and with support from Associates, Yonastan Pangestu and Bianka Renzanova K. We are proud to have assisted PTVI in the successful transaction.
We are delighted to extend our heartfelt congratulations to PT Dayamitra Telekomunikasi Tbk (Mitratel), Southeast
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