October 25, 2017

Milbank Advises Indonesian Firm Saratoga Capital on Divestment of Majority Interest in PT Saratoga Power

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SINGAPORE – Milbank, Tweed, Hadley & McCloy LLP served as international counsel for Indonesian private equity firm Saratoga Capital in relation to divestment of its 77.68% interest in PT Saratoga Power, which held a 51% interest in PT. Medco Power Indonesia (“MPI”). The deal closed in October 2017. Milbank also acted for PT Saratoga Power in its acquisition of MPI in 2011. MPI is a leading mid-sized Independent Power Producer in Indonesia with a primary focus on power from natural gas and geothermal sources.

The Singapore-based Milbank team was led by partners Jacqueline Chan and David Zemans, with support from associates Leroy Langeveld and Scarlett Wang.

Ms. Chan said: “We are truly delighted to have supported Saratoga Capital in this significant transaction and to have assisted in steering the transaction to a successful conclusion. Milbank’s role in this complex process further solidifies our position as a leader in corporate acquisitions and divestments in the Indonesian and Asia energy sector.”