At the end of 2021 PT Ebara Turbomachinery Services Indonesia intended to expand their business by engaging one of their affiliates in Japan namely Elliott Ebara Turbomachinery Corporation as a new shareholder and also by injecting the fresh capital by the original shareholder called Ebara Corporation. In doing so, changes of control that results an acquisition of PT Ebara Turbomachinery Services Indonesia by Elliott Ebara Turbomachinery Corporation under Indonesian Company Law perspective is inevitable.

The overall transaction was segregated into 2 main stages, acquisition transaction and new capital injection transaction. DKMS roles to this transaction were to provide the legal assistance for various documents and agendas starting from the preparation of acquisition plan up to the arrangement of signing ceremony. Despite being an inter-affiliated company transaction, the negotiation of each document was done very carefully always adhering to the ‘arm length’ basic principle.

After 4 tight months, the first stage of this transaction (acquisition transaction) was completely done as marked by the issuance of MOLHR Approval towards the acquisition transaction, capital increase and changes of shareholding structure.

The second stage of this transaction (new capital injection) was completely done within 3 months of negotiation as marked by the issuance of MOLHR Approval towards the capital increase.