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Allen & Overy advises on Tokopedia and Gojek’s combination to create the largest technology group in Indonesia

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Sugianto Osman

Partner, Ginting & Reksodiputro in association with Allen & Overy

Jakarta

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Image of Tom Jokelson
Tom Jokelson

Senior Associate

Singapore

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Moore Chris
Chris Moore

Partner

Singapore

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Brendan Hannigan

Partner

Singapore

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Mirpuri Madhu
Madhu Mirpuri

Marketing and Communications Manager

Hong Kong

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19 May 2021

Allen & Overy and Ginting & Reksodiputro (in association with Allen & Overy) have advised long standing client Tokopedia, Indonesia's leading ecommerce marketplace, on its transformational combination with another one of our clients, Gojek, the Indonesian based ride-hailing and payments giant. The transaction brings together two of Southeast Asia’s most valuable conglomerates, with the combined business having a valuation of USD18 billion, and will create the largest technology company in Indonesia. 

Tokopedia’s traditional business model matches customers with merchants instead of selling products from its own shelves, however it now encompasses various other verticals including logistics, fulfilment, payments and financial services. Gojek is Indonesia’s first and fastest growing unicorn, building an on-demand empire across Southeast Asia with a focus on ride-hailing, food delivery, digital payments and shopping. 

Partner Sugianto Osman commented: “Our ability to offer seamless advice from a multi-jurisdictional perspective was a key value-add for Tokopedia and showcased our ability to navigate the technical requirements of the Indonesian processes required with the commercial expectations of the international investors. We are delighted to advise long standing client Tokopedia on this landmark transaction and work alongside Gojek, another existing client.”

The combined Tokopedia and Gojek entity will be known as the 'GoTo' group following the transaction. GoTo group will be well-placed to compete with the other tech companies in the region.

The team advising on the transaction was led by partner Sugianto Osman and senior associate Tom Jokelson, along with support from partners Christopher Moore, Brendan Hannigan, senior associates Catriona Chau, Adarsh Chhabria, Sam Samid and associates Niki Satyapeni, Rosy Madian, Kevin Jhonson and Trysa Arifin.