Indonesia - SSEK Acts For Ovolo Group In Bali Resort Acquisition.
Legal News & Analysis - Asia Pacific - Indonesia - Corporate/M&A
8 November, 2019
SSEK Legal Consultants has assisted Ovolo Group, an award-winning luxury boutique hotel brand headquartered in Hong Kong, with the acquisition of a resort hotel in Bali.
Ovolo acquired Citadines Kuta Beach Bali, an upmarket serviced apartment/hotel development located near the popular tourist areas of Seminyak and Legian. This is the group’s first property outside of Hong Kong and Australia, as Ovolo eyes a global expansion.
SSEK assisted Ovolo Group on all Indonesian legal aspects of the acquisition, from due diligence, negotiating and finalizing the transaction documents, to closing. SSEK also advised on various matters relating to the operation of the hotel.
Denny Rahmansyah, SSEK’s managing partner and a supervising partner of the firm’s land and property practice, led the SSEK team assisting on the transaction, with Greita Anggraeni as lead associate. Also working on the transaction were SSEK associates Juven Renaldi, Arvin Raharja, Vicky Karnadi and Kadek Denny B. Adiputra.