As the 2024 calendar year comes to an end, Makes and Partners Law Firm (“Makes”) would like to take this opportunity to thank all its valued clients, friends and strategic partners for their collaboration, continuous trust and unwavering support. This year has been an eventful one as Indonesia held its democratic national elections on February 14th and the transition to the new government has brought with itself changes in policies and regulations, which will undoubtedly have an impact on the legal industry. At Makes, we strongly believe in staying resilient and optimistic in facing each uncertainty and challenge with a positive spirit.
We take immense pride in sharing our achievements as leaders in Mergers and Acquisitions (M&A) and capital market transactions, underscored by our exceptional 95% deal completion rate – a testament to our reputation as the go-to legal counsel for the strategy formulation and high-stakes negotiation of complex and high-value deals since 1993. This year, we continue to be at the helm of transformative and landmark transactions across various sectors with deal values spanning across an average of USD100 million for each of our mid-size deals and an average of USD600 million for each of our landmark deals. Our M&A deals particularly stand out for their myriad and multifaceted complexities, which include both international and domestic deals being executed through the capital markets and seamlessly integrating sophisticated financing structures and creative and strategic restructuring.
While confidentiality remains a cornerstone of our practice, we are pleased to share a glimpse of the groundbreaking work we have accomplished this year:
- Transformative Restructuring for Legacy Conglomerates: We have successfully spearheaded various strategic restructurings of several established, longstanding and intergenerational corporations – including, amongst other, the landmark acquisition in value conducted through the capital markets in 2024 involving a leading paper producer.
- Triumphs in High-Stakes M&A Deals: We have assisted our clients in securing wins in competitive bid processes for multiple acquisitions and investments, which include the high-stake acquisitions in the sectors of telecommunication and digital technology, transportation logistics and infrastructure, energy and sustainability, food and agriculture, and health care.
- Pioneering New Ventures and Strategic Collaborations: We have facilitated groundbreaking pilot investments and new strategic partnerships and collaborations between leading industry players, including the entry of one of our client into the premium tourism development area in Indonesia, showcasing our role as enablers of strategic growth.
- Involvement in Strategic State Initiatives: In line with our longstanding support and pride in Indonesia coupled with our expertise as transaction counsels, we have also been actively supporting various strategic initiatives of the Indonesian Government, which includes the planned establishment of family office scheme in the Special Economic Zone, and the establishment of new entities and initiatives that are intended to be introduced in the coming year.
- Driving Optimism in Capital Markets: We continue to stay true to our longstanding identity as leaders in the Indonesian capital market scene with profound presence through high-profile domestic and international transactions, including green bond issuances by state-owned enterprises and offerings from prominent real estate companies and syariah banking leaders.
- Trailblazing New Legal Practices in Public-to-Private Transactions: We continue cementing our leadership as the only law firm in Indonesia with a proven track record in pioneering go private transactions of public companies.
This year also marks our celebration of the momentous 10-year anniversary of our strategic alliance with the esteemed WongPartnership LLP (“WongP”), a partnership rooted in trust, collaboration, and shared ambition. Over the past decade, this dynamic relationship has allowed us to seamlessly blend our expertise, engaging in a vibrant exchange of ideas to deliver exceptional legal counseling across borders covering the jurisdictions of Southeast Asia, Europe, China, Middle East and the United States of America. Together, we have proudly supported a diverse array of high-profile clients, including sovereign wealth funds, leading private equity and venture capital firms and top-tier industry leaders from various sectors. This milestone not only reflects our joint commitment to excellence but also symbolizes the enduring strength of our collaboration. We look forward to the next chapter of success with WongP, as we continue to break new ground in serving our clients with innovative, tailored solutions in an ever-evolving global landscape.
In the spirit of growth and expansion, we are also delighted to announce the recent addition of a new Partner at the Firm, Muhammad Karnova. Muhammad Karnova is an esteemed legal professional with a wealth of experience spanning over 20 years in M&A across a variety of sectors, including energy, natural resources, infrastructure, property development, banking/financial service as well as fast-moving consumer goods (FMCG). His extensive experience also includes a strong focus on corporate banking, particularly in syndication and structured finance, honed through his prior advisory role at a leading Indonesian state-owned bank. Renowned for his exceptional negotiation abilities, Karnova has provided counsel to multinational corporations, investment banks, private equity firms, large local corporates and state-owned enterprises, earning recognition from prestigious legal rankings such as Legal 500, IFLR 1000, and Chambers.
As we close this year, once again we are proud to say that at Makes & Partners, we remain steadfast in our commitment to delivering seamless, end-to-end services, always striving to provide exceptional value and elevate your experience with us. We are dedicated to supporting your success and we look forward to another year of partnership and growth. As such, we extend our warmest wishes to you and your loved ones for a joyful and prosperous holiday season.
For further information or queries, please do not hesitate to contact us at: infodesk@makeslaw.com.
May 2025 bring even greater achievements, milestones and success to all.
With warm regards,
Makes Team