SSEK Law Firm has advised SCG Chemicals (Singapore) Pte. Ltd., a wholly-owned subsidiary of Siam Cement Public Company Limited, on the divestment of its entire 50% shareholding in PT Siam Maspion Terminal to an Indonesian company.
PT Siam Maspion Terminal is a joint venture company with PT Maspion Investindo and operates as a jetty operator specializing in the loading and unloading of liquid and gas cargo for manufacturing companies within the Maspion Industrial Estate in Gresik, East Java. The transaction marks SCG Chemicals’ exit from the joint venture and reflects its continued focus on optimizing its investment portfolio in the region.
SSEK’s scope of work included drafting and negotiating the transaction documents and assisting the client through to completion of the divestment. In addition, SSEK advised on various legal aspects of the transaction, including licensing and land, and provided practical and solution-oriented advice to facilitate a smooth and timely closing.
The matter was led by SSEK senior partner Ira A. Eddymurthy and partner Fransiscus Rodyanto, supported by associates Muhammad Nur Mahatmanta and Maureen Cornelia David.