SSEK Acts as Indonesian Counsel for Alibaba in Lazada Purchase
SSEK Legal Consultants has acted as Indonesian counsel to Alibaba Group Holding in its US$1 billion purchase of a controlling stake in Southeast Asian online retailer Lazada Group, as has been widely reported.
As reported, Alibaba will buy US$500 million of newly issued shares from the online retailer, and a further US$500 million from existing shareholders.
Lazada was founded by Germany's Rocket Internet in 2012 and is headquartered in Singapore. It also operates in Indonesia, Malaysia, the Philippines, Thailand and Vietnam.
SSEK's team advising on the transaction was led by founding partner Ira A. Eddymurthy and partner Fahrul S. Yusuf.
Sullivan & Cromwell was international counsel for Alibaba Group.
SSEK Legal Consultants is a leading full-service corporate and commercial law firm based in Jakarta, Indonesia. Since its founding in Jakarta in 1992, SSEK has grown to one of the largest and most highly regarded corporate law firms in Indonesia. SSEK is recognized by independent legal directories including Chambers & Partners, The Legal 500 and Asia Law as a leading law firm in Indonesia across all major practice areas including banking and finance, capital markets, corporate law and mergers and acquisitions, construction and real estates, energy and natural resources, IT and telecommunications, labor and employment, project finance, restructuring and insolvency, and shipping. SSEK has been named the Indonesian Law Firm of the Year on multiple occasions.