Widyawan & Partners advised TikTok on its strategic partnership with, and the investment into, PT Tokopedia, the leading e-commerce platform under PT GoTo Gojek Tokopedia Tbk, the largest digital ecosystem in Indonesia.
As part of the strategic partnership, Tokopedia and TikTok Shop Indonesia’s businesses will be combined under the existing PT Tokopedia entity in which TikTok will take a controlling stake. The partnership is expected to strengthen the development of the digital economy in Indonesia, as well as supporting the long-term growth of local micro, small and medium enterprises.
Widyawan & Partners advised on the Indonesian-law aspects of the transaction, supporting TikTok in navigating the complex regulatory environment as well as its legal due diligence, and various transactional elements.
The transaction was led by Widyawan & Partners’ corporate partner Teguh Arwiko, with support from managing associate Kevin E. Matindas.
Additional expertise was provided by the Linklaters’ global network, on assisting TikTok in structuring potential transactional solutions in connection with its strategic development of e-commerce business in Indonesia, including providing relevant structural and regulatory advice. The team was led by corporate partner Benran Huang, with support from managing associate Guannan Zhang.
Widyawan & Partners’ corporate partner Teguh Arwiko commented:
“Widyawan & Partners has a market-leading track record in executing transactions in Indonesia and an excellent understanding of the Indonesian legal and regulatory environment. We are grateful to have had the opportunity to support TikTok on this strategic transaction. Congratulations to everyone involved!”
Widyawan & Partners and Linklaters have a formal association in Indonesia and work closely together to provide clients with a market-leading international and Indonesian law capability.
