Baker McKenzie Advised Sampoerna Group on its Divestment of Sampoerna Agro to POSCO International’s Subsidiary
Baker McKenzie Advised Sampoerna Group on its Divestment of Sampoerna Agro to POSCO International’s Subsidiary
Baker McKenzie, together with its member firms Baker McKenzie Wong & Leow in Singapore and HHP Law Firm in Indonesia, has advised Twinwood Family Holdings Limited, part of the Sampoerna Strategic Group (“Sampoerna Group”), on the divestment of its entire 65.721% stake in PT Sampoerna Agro Tbk (“SGRO”), to AGPA Pte. Ltd., a subsidiary of POSCO International Corporation (“POSCO International”; Stock Code: 047050.KS), a Korean conglomerate engaged in trading, energy, steel, and agribusiness.
The deal represents a key milestone in Sampoerna Group’s business transformation, enabling the company to seek new opportunities that are in line with current business needs and market trends. The transaction also marks a new chapter for SGRO as it embarks on the next phase of its growth under POSCO International’s management control.
Indonesia’s palm oil industry accounts for around 60% of total global production, with crude palm oil exports of about 50% of total global exports. SGRO is a leading listed company in Indonesia operating palm plantations across Sumatra and Kalimantan. It also owns a specialized palm seed subsidiary and research institute that together hold the second-largest share in the domestic palm seed market.
The Baker McKenzie team was led by Theodore Heng (Principal/ M&A) and Bee Chun Boo (Principal/ M&A), with the support of Alexa Jiang (Special Senior Consultant), Gerald Lim (Associate ) and Willy Wai (Trainee ) in Singapore as well as Daniel Pardede (Partner / M&A), Bimo Harimahesa (Associate Partner/ M&A), Bratara Damanik (Senior Associate ) and Naztasha Cesty (Associate / Capital Markets) in Jakarta.
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