Acquisitions in Indonesia

Airwallex acquired a majority ownership stake in PT Skye Sab Indonesia, an Indonesian PJP (Penyedia Jasa Pembayaran) Category 1 licensed payments company. The deal strengthens Airwallex’s regulatory and on-the-ground presence in Indonesia and supports cross-border payment capabilities for Indonesian merchants expanding overseas and international businesses entering Indonesia.

Creador acquired a controlling stake in MG Group, a Southeast Asia-based B2B hospitality marketplace. The investment is intended to support MG Group’s global expansion, leveraging its technology platform (including MG Jarvis) and network of accommodation suppliers and global buyers.

Warburg Pincus, partnering with executive Abhishek Bhatia, committed USD 350 million in equity to establish Oona Insurance, a digital general insurance platform focused on Southeast Asia. Oona is seeded through the acquisitions of PT Asuransi Bina Dana Arta Tbk (ABDA) in Indonesia and Mapfre Insular Insurance Corporation (MIIC) in the Philippines, to be consolidated and rebranded under Oona.

DigitalBridge Group, Inc. formed EdgePoint Infrastructure, a wireless towers platform focused on Southeast Asia, in partnership with towers executive Suresh Sidhu. Since its formation, EdgePoint has acquired a controlling stake in PT Centratama Telekomunikasi Indonesia Tbk in Indonesia, purchased 4,247 towers from Indosat Ooredoo via a sale-leaseback transaction, and acquired Asiaspace in Malaysia.

EQT Mid Market Asia III fund ("EQT Private Equity") has invested in Indesso Group, a Jakarta-headquartered provider of natural flavor and fragrance ingredients and food & wellness solutions. The founding Gunawan family will retain a majority stake and continue to manage the business following the transaction, which closed on 10 May 2021.

L Catterton announced a strategic investment in Social Bella International (Sociolla), a leading beauty and personal care e-commerce and omnichannel retailer in Indonesia. L Catterton will join Sociolla’s board and support the founders as the company expands to meet rising consumer demand across Southeast Asia. The transaction marks L Catterton’s first investment in Indonesia.

9 Story Media Group acquired PT Bali Animation Studio and PT Bali Animasi Solusi Ekakarsa, collectively known as BASE, a full-service CGI animation studio based in Bali, Indonesia. The deal expands 9 Story’s global production capacity and footprint; transaction terms were not disclosed. BASE’s co-founders Lily Wang and Daniel Harjanto Setyawan will continue to lead the studio under 9 Story.