PT Indonesia Asahan Aluminium (“Inalum”), as Indonesia’s representative in the divestment of PT. Freeport Indonesia (“PTFI”), and United States mining giant Freeport McMoran Inc (“FCX”) signed a Heads of Agreement (HoA) (12/7), which agreed on the value and transaction structure of the divestment. The deal is a part of last year’s agreement between the Indonesian government and FCX.
Led by Partner Giovanni Mofsol Muhammad and supported by Associates Michael A. Kaihatu, Abraham Sylvester Harryandi, and Fath Armada Sukardi, the HPRP team, as part of the consortium of consultants lead by PT Danareksa Sekuritas, was appointed to provide legal advice and assistance to the Indonesian government and Inalum in this share divestment transaction.
Finance Minister Sri Mulyani Indrawati, State-Owned Enterprises (SOEs) Minister Rini Soemarno, Energy and Mineral Resources Minister Ignasius Jonan, and Environment and Forestry Minister Siti Nurbaya Bakar, attended the agreement signing between FCX CEO Richard Adkerson, Inalum’s President Director Budi G. Sadikin, and PTFI’s President Director Tony Wenas at Djuanda 1 building of the Ministry of Finance.
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