Legal DealFolio - Formation of Astra Aviva Life Indonesian Joint Venture

Ashurst has advised Aviva as lead international counsel on the formation of Astra Aviva Life, a 50-50 joint venture between Aviva and PT Astra International Tbk (Astra) (a member of the Jardine Matheson group) to sell and distribute life insurance products in Indonesia. As part of the transaction, Astra will acquire a 50% shareholding in PT Asuransi Aviva Indonesia (Aviva's subsidiary in Indonesia, which will be rebranded as Astra Aviva Life) and Astra Aviva Life will enter into distribution arrangements with a number of the Astra Group companies, including PermataBank. Astra Aviva Life will be the preferred provider of a range of life insurance products to Astra and its subsidiaries. The joint venture will also offer life insurance to the wider consumer market through a variety of digital, agency and partner channels. The transaction remains subject to regulatory approvals. Astra is Indonesia's largest publicly listed company and serves more than 10 million customers per year through market leading businesses in six segments: automotive, financial services, heavy equipment and mining, agribusiness, infrastructure and logistics, and information technology. Astra consists of 179 companies including subsidiaries, associates and jointly controlled entities and employs more than 197,000 people across Indonesia. The Ashurst team advising Aviva was led by Singapore corporate partner Keith McGuire and senior associates Toby Mander-Jones and Samantha Loh. Ashurst's associated Jakarta office advised Aviva on Indonesian law matters. The Jakarta team included Toby Grainger, Natasha Djamin and Aditya Adhika.

Deal Date:	23-01-2014	Practice Area:	Corporate and M&A
Deal Title:	Formation of Astra Aviva Life Indonesian Joint Venture	Industry:	Life Insurance
Description:	Ashurst has advised Aviva as lead international counsel on the formation of Astra Aviva Life, a 50-50 joint venture between Aviva and PT Astra International Tbk (Astra) (a member of the Jardine Matheson group) to sell and distribute life insurance products in Indonesia. As part of the transaction, Astra will acquire a 50% shareholding in PT Asuransi Aviva Indonesia (Aviva's subsidiary in Indonesia, which will be rebranded as Astra Aviva Life) and Astra Aviva Life will enter into distribution arrangements with a number of the Astra Group companies, including PermataBank. Astra Aviva Life will be the preferred provider of a range of life insurance products to Astra and its subsidiaries. The joint venture will also offer life insurance to the wider consumer market through a variety of digital, agency and partner channels. The transaction remains subject to regulatory approvals. Astra is Indonesia's largest publicly listed company and serves more than 10 million customers per year through market leading businesses in six segments: automotive, financial services, heavy equipment and mining, agribusiness, infrastructure and logistics, and information technology. Astra consists of 179 companies including subsidiaries, associates and jointly controlled entities and employs more than 197,000 people across Indonesia. The Ashurst team advising Aviva was led by Singapore corporate partner Keith McGuire and senior associates Toby Mander-Jones and Samantha Loh. Ashurst's associated Jakarta office advised Aviva on Indonesian law matters. The Jakarta team included Toby Grainger, Natasha Djamin and Aditya Adhika.
Financial Center:	Singapore	Value:	0.00-0.00
Advised Party:	Joint Venture Party	Law Firm	Ashurst
JV Party Jurisdiction	United Kingdom,Indonesia	JV Party Jurisdiction	United Kingdom
Classification:	Joint Ventures Continuing Business Partnership	Lawyer	Keith McGuire

Practice Areas -

Corporate and M&A Law Firms and Lawyers

Practice Areas - Corporate and M&A Law Firms and Lawyers