Ashurst advised Japanese trading house Mitsui on its acquisition of a minority stake in Global Ecommerce Indonesia (GEI) over a 12-month period.
The deal is part of US$100 million equity financing raised for GEI, led by Mitsui, with participation from undisclosed new and existing investors. Mitsui will purchase a stake of about 10% in GEI.
The new investment allows Mitsui to gain a foothold in Indonesia’s fast-growing e-commerce market, and the funding will go towards stepping up marketing and enhancing systems for MatahariMall, a digital retailing platform run by GEI that went live in September 2015.
