KWM has advised PT Petrosea Tbk (Petrosea) on the acquisition of HBS Limited and its subsidiaries (HBS Group).
Petrosea is a leading Indonesian mining and engineering services company, specialising in mining, infrastructure, oil and gas. It has entered into an agreement to acquire 100% of HBS Group, which is a leading provider of mining and construction services in the Pacific region, recognised for its involvement in major gold mining projects. Headquartered in Papua New Guinea (PNG), HBS Group has operations in PNG, Australia and the Solomon Islands.
This acquisition marks a strategic move by Petrosea to expand internationally and diversify into the gold mining sector, aiming to create operational synergies and broaden its service offerings across Indonesia and PNG.
The KWM deal team consisted of Partner Adrian Perkins, Senior Associate James Southee, and Solicitor Jack O’Brien. The transaction required significant cross-jurisdictional collaboration with local counsel across Australia, PNG and the Solomon Islands.
Commenting on the deal, Adrian Perkins said:
“We’re delighted to have supported Petrosea on this milestone acquisition, which really highlights the increasing opportunities and investment activity across the Pacific.
“KWM’s involvement in complex cross-border transactions of this nature underscores our established presence and expertise in the region, as well as our ability to assist clients in navigating the evolving opportunities and challenges within the Pacific market.”
