TnP Law Firm Successfully Assisted PT Jasa Marga (Persero) Tbk (JSMR) and PT Jasamarga Transjawa Tol (JTT) in Completing Equity Financing

TnP Law Firm is thrilled to announce the successful completion of the equity financing transaction for PT Jasa Marga (Persero) Tbk (JSMR) and PT Jasamarga Transjawa Tol (JTT). As a testament to our firm’s expertise and dedication, we have guided JSMR and JTT through every stage of this complex transaction. Beginning with the signing of conditional agreements on June 28, 2024, and culminating in the successful closing on September 27, 2024, TnP Law Firm played a pivotal role in ensuring a smooth and efficient process.

The transaction involved the partial sale of JTT shares by JSMR and the issuance of new JTT shares to a consortium of investors, including Warrington Investment Pte. Ltd. (WIPL), Metro Pacific Tollways Indonesia Services (MPTIS), and Margautama Nusantara (MUN), subsidiaries of Metro Pacific Tollways Corp (MPTC), the largest toll road developer and operator in the Philippines. The value of the 35% share acquisition by the GIC – MPTC Consortium is worth IDR 15.75 trillion, including the issuance of new shares.

The equity financing transaction raised funds to support the development of the Trans-Java toll road. PT Jasamarga Transjawa Tol, which currently operates 676 kilometers of the Trans-Java toll road, representing 57% of its total length of 1,184 kilometers, continues to be a pivotal part of the PT Jasa Marga (Persero) Tbk group. This provides a solid foundation for future growth and capitalizes on the increasing demand for toll road infrastructure in Indonesia.

Our Partner, Ken Prasadtyo, and Associate Partner, Kevin Yehezkiel, led the dedicated team with direct support from Senior Associate, Afif Alfaruqi, and Associates, Yonastan Pangestu, Bianka Renzanova K, Cindy Caroline, Farrel Putra Mirzanda, and Natasha Pitoy.

We take immense pride in contributing to Jasa Marga’s successful completion of this strategic acquisition. Congratulations once again to all the parties involved.