Makes & Partners is the market leader in privatization and divestment matters, and has been appointed by the Government of Indonesia, the Ministry of State Owned Enterprises (MSOE or BUMN) and , by the Indonesian Bank Restructuring Agency (IBRA or BPPN), in connection with major government privatization and divestment programs. Some of the privatization and divestment related deals handled by Makes & Partners are as follows:
- In a competitive selection process among the top law firms in Indonesia, Makes & Partners was selected as the legal counsel for the highly regarded and successful USD 500 million Initial Public Offering of PT Bank Rakyat Indonesia (Persero) Tbk.
- Makes & Partners acted for and on behalf of the Government of Indonesia in the privatization of various government entities including Semen Gresik (the first privatization ever in the Reformation Era).
- Makes & Partners was appointed by the Government of Indonesia to advice on the USD 620 million strategic sale of shares of PT Indosat (Persero) Tbk.
- Makes & Partners was appointed by the Government of Indonesia (via IBRA) to represent IBRA in its sale of 51% stake in PT Bank Central Asia Tbk having a value of IDR 6 trillion (USD 540 million).
- Makes & Partners was appointed to represent the underwriters in connection with the divestment of shares in PT Bank Negara Indonesia Tbk by the Government of the Republic of Indonesia through the Ministry of State-Owned Enterprises.
- Makes & Partners represented Bank Indonesia in the divestment of Indover Bank (Netherlands).
- Makes & Partners advised the bidders participating in BBPN's divestment of PT Bank Lippo Tbk and PT Bank International Indonesia.
- Makes & Partners was appointed by the Indonesian Government (via IBRA) to represent IBRA in the IDR 6 trillion (USD 540 million) sale of a 51% stake in PT Bank Central Asia Tbk and by the MSOE for both the USD 110 million block trade sale.
- Privatization of PT Wijaya Karya (Persero) Tbk, with a deal value of IDR 775 billion.
- Divestment of various companies by PT Holdiko Perkasa (set up by IBRA). Makes & Partners advised on more than 60% of the divestments carried out by Holdiko.
- In addition to these transactions, Makes & Partners has initiated and participated in a number of seminars, workshops and discussion forums relating to the privatization program of the Government of Indonesia.