Kingston Pang (Managing Director, Redpeak Advisers) shared some thoughts on the Protelindo-XL Axiata transaction and general M&A outlook amidst Covid-19:

“The main challenge in closing the deal in a timely manner has been the impact of the COVID-19 outbreak. It has made arranging physical meetings and review of documents more difficult amid current movement movement restrictions.  We expect to see short-term disruptions and delays in M&A deals generally across industries, including the Indonesian telecom market, due to investors’ further reassessment of the market outlook.”

Redpeak Advisers acted as exclusive financial advisor to Protelindo on the transaction.