Erwandi Hendarta
Biography
Erwandi Hendarta is a senior partner and the Head of Finance & Projects Practice Group in Hadiputranto, Hadinoto & Partners. Erwandi has extensive experience working in the business and financial sectors. Erwandi has had multiple careers, having worked as a central banker at Bank Indonesia (the Central Bank of Indonesia) handling Government’s projects with multilateral agencies (IBRD/the World Bank, OECF, ADB) and as an investment banker doing corporate finance with Schroders Indonesia (an investment banking arm of Schroders Plc., London) before becoming a lawyer with HHP Law Firm.
In addition to his Indonesian legal degree, Erwandi has an LL.M. from Cornell University, USA, and an MBA from Boston University, USA. He was a recipient of prestigious graduate scholarships from the Fulbright, USA and the World Bank. Erwandi has been a regular contributor to Doing Business publications by the World Bank and the IFC. Erwandi’s wide-ranging experience as a regulator, an investment banker and now a senior partner at HHP Law Firm as well as his combined legal and business education enable Erwandi to have cross-disciplinary and insightful approaches in representing multinational corporations and international banks in their transactions.
Practice Focus
Representative Legal Matters
- Representing MUFG Bank in the three-step acquisition of Temasek’s (via Asia Financial (Indonesia) Pte. Ltd.) interest in Indonesian publicly listed PT Bank Danamon Indonesia Tbk. The first step involved acquiring a 19.9% stake valued at approximately USD 1.171 billion, followed by an additional second step increasing MUFG's stake in Danamon to 40%. The third step culminated in the merger of Bank Danamon Tbk and MUFG’s existing subsidiary PT Bank Nusantara Parahyangan Tbk (Bank BNP), adding 54% of Danamon shares worth USD 3.719 billion. This deal received recognition including 2018 M&A Deal of the Year - ALB Indonesia Law Awards and 2018 Best Indonesia Deal - FinanceAsia Achievement Awards.
- Representing Medco Energi Internasional Tbk ("Medco") and its subsidiaries as the sponsor and borrowers in a USD 420 million six-year secured revolving reserve-based lending (RBL) facility. This deal was one of the largest reserve-based financings closed in Asia in 2023. The transaction involves multiple banks including ANZ, ING Bank, Société Generale, Bank Mandiri, Credit Agricole CIB, DBS, MUFG, and UOB.
- Representing MUFG Bank, Ltd. together with its consolidated subsidiary, PT Adira Dinamika Multi Finance Tbk, in relation to its 80.6% acquisition of shares in PT Mandala Multifinance Tbk at a cost of approximately IDR 7,042 billion (approximately USD 583 million). MUFG Bank, Ltd. is the biggest shareholder of PT Mandala Multifinance Tbk by holding 70.6% shares while PT Adira Dinamika Multi Finance Tbk holds 10% shares. This acquisition will be followed by a mandatory tender offer as per the applicable regulations.
- Acting for a member of SMBC Group (Bank BTPN Tbk.) in the acquisition of PT Oto Multiartha and PT Summit Oto Finance from SMBC and Sumitomo Corporation with the value of around US$414 million. At the same, we also acting as the counsel of Bank BTPN Tbk. In its rights issue (also around US$ 414 million) for the acquisition.
- Assisting Standard Chartered Bank (Indonesia branch) ("SCB") in the sale of its consumer business portfolios (automotive loans, mortgage loans, credit card and personal loan) to PT Bank Danamon Indonesia, Tbk ("Danamon").
- Representing Home Credit Indonesia BV (“Seller”) to divest and wholly sell its stake in PT Home Credit Indonesia an Indonesian multifinance company that focus on home appliances financing (“Company”) to MUFG and its subsidiaries (“Buyers”). The Company is licensed as a multifinance company and a credit card issuer.
- Represented a prominent media and digital conglomerate, Elang Mahkota Teknologi Tbk (through its direct subsidiary, Elang Media Visitama) ("EMTEK") in its acquisition of 93% shares of Bank Fama International ("Bank Fama") for around USD 65 million. This is the media giant’s first step into entering the digital banking space in the country.
- Represented Funding Asia Group Pte Ltd (“FAG”), the owner of P2P lending platform named Modalku, in its investment as a strategic investor in PT Bank Index Selindo ("Bank Index"). The investment of FAG in Bank Index serves as a significant milestone in FAG's entry into the neobanking space and its drive to offer more high-impact digital financial services to underserved businesses in Indonesia. In this deal, Carro, an ASEAN regional car marketplace, also becomes the strategic investor of Bank Index.
- Represented HSBC and PT Bank HSBC Indonesia (formerly PT Bank Ekonomi Raharja Tbk) in relation to the integration of the businesses of the two banks which would consolidate HSBC’s banking business in Indonesia.
Professional Honors
- Hall of Fame for Banking & Finance, Legal 500 Asia Pacific 2023, 2024
- Highly Regarded Lawyer in Banking, IFLR1000, 2018 – 2023/2024
- Band 2 for Banking & Finance, Chambers Asia, 2020 - 2024.
- Named one of the Top 10 Dynamic Indonesian Banking & Finance Lawyers of 2023 by Business Today News
- Banking & Finance Lawyer of the Year in Indonesia – Lawyer Network Annual Awards 2023.
- Distinguished Practitioner in Banking and Finance, Asialaw Leading Lawyers 2022
- Leading Individual for Banking & Finance, Legal 500 Asia Pacific 2022
Professional Associations and Memberships
- Indonesian Advocates Association (PERADI) - Member
Admissions
- Indonesia (1985)
Education
- Boston University (M.B.A.) (1993)
- Cornell University (LL.M.) (1991)
- Airlangga University (S.H.) (1985)
Languages
- English
- Indonesian