KWM advises Petrosea on HBS Group acquisition

KWM has advised PT Petrosea Tbk (Petrosea) on the acquisition of HBS Limited and its subsidiaries, known collectively as HBS Group. This strategic move allows Petrosea, a prominent Indonesian mining and engineering services company, to diversify its operations within the gold mining sector. HBS Group is well-regarded for its mining and construction services in the Pacific region and is particularly noted for its involvement in significant gold mining projects. Based in Papua New Guinea (PNG), the company also maintains operations in Australia and the Solomon Islands.

The acquisition represents a critical step for Petrosea, as it seeks to broaden its service offerings while targeting operational synergies between its new and existing ventures in Indonesia and PNG. The deal has been facilitated by a dedicated team from KWM, which included Partner Adrian Perkins, Senior Associate James Southee, and Solicitor Jack O’Brien. The transaction demanded extensive cooperation across jurisdictions, involving local counsel from Australia, PNG, and the Solomon Islands.

Commenting on the significance of the deal, Adrian Perkins expressed, “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”