Ashurst advises Indonesias leading petrochemical producer PT Chandra Asri Petrochemical Tbk

This transaction will further enhance CAP's business fundamentals and unlock its synergies by diversifying CAP's revenue. On the other hand, the divestment of PT KSI's will also realize its business synergy with CAP, improve PTKS' overall financial position and establish part of its financial obligations restructuring plan with its key lenders.

Lead partner Ipop Nawangsari commented, "We are delighted to have advised PT Chandra Asri Petrochemical Tbk on this successful transaction. The synergies between the entities will further strengthen the development of water and energy supply in the Cilegon industrial zone. It also helps key stakeholders to further strengthen and grow their financial performance and business opportunities and it is overall a win-win situation for all parties involved."

The transaction was led by partner Ipop Nawangsari, leading a multi-disciplinary team with the support from corporate senior associate Adhika Aditya,  associates Kevin Jhonson Simatupang and Indra Sudrajat, projects senior associate Norman Ibnuaji and associate Anggara Narendraputra, trainee associate Hadisti Azzahra, and legal intern Annisa Syamirah.