Gerard A. Hekker is a director in the Singapore-based joint law venture Duane Morris & Selvam LLP and a partner in Duane Morris LLP. He serves as a team lead for the Duane Morris Technology, Media & Telecom industry group. Based in Asia since 1998, Gerard provides corporate legal representation on:
- cross-border M&A and investment involving public and private companies including share and asset acquisitions, shareholder and joint venture agreements, earn-out agreements, due diligence, antitrust, tax and regulatory compliance and business integration;
- technology transactions including infrastructure deployment and sharing agreements, managed services agreements, technology licensing and service agreements, MVNO agreements, national roaming and spectrum sharing agreements, distribution agreements, online payment solutions, contract manufacturing and toll manufacturing agreements; and
- Rule 144A and Regulation S global offerings, and US registered offerings, of debt and equity securities including liability management (exchange and tender offers and consent solicitations) and complex debt restructuring.
Gerard's industry experience includes telecommunications, media and technology (TMT), e-commerce, financial services, consumer and manufacturing, energy and natural resources, and downstream petroleum and petrochemicals.
Gerard has been admitted as an attorney in California since 1993 and as a solicitor in England and Wales since 2001. He is recognized as a leading lawyer by Chambers Asia Pacific, Chambers Global, Who's Who Legal, Best Lawyers and PLC Capital Markets. In the 2018 edition of Chambers Asia Pacific and Chambers Global, Gerard is described as being noted "for both his capital markets and M&A work in sectors including telecoms, finance and resources." He is also "known for his significant expertise in matters with Indonesian elements."
Areas of Practice
- Mergers and Acquisitions
- Venture Capital
- Equity and Debt Securities
- Technology Transactions
- Represented Protelindo on its proposed acquisition of the entire issued share capital its competitor PT Solusi Tunas Pratama Tbk.
- Represented Protelindo on the approximately US $102 million acquisition of the issued and outstanding shares of Indonesian tower company PT Komet Infra Nusantara.
- Represented PT Profesional Telekomunikasi Indonesia (Protelindo), an Indonesian tower company, on the approximately US$135 million acquisition of 1000 telecommunication towers from PT Indosat Tbk.
- Represented Globe Telecom, Inc. on its proposed sale and leaseback transactions in the Philippines.
- Represented PT Profesional Telekomunikasi Indonesia, an Indonesian tower company, on the proposed acquisition of the issued and outstanding shares of Indonesian tower companies PT Komet Infra Nusantara and PT Solusi Tunas Pratama Tbk.
- Represented Silterra Malaysia Sdn Bhd, a Malaysia-based semiconductor manufacturer, on its Series B preference share investment in Elenion Technologies Corp., a US specialty-semiconductor manufacturer.
- Represented Circles Asia Pte Ltd, a Singapore-based mobile virtual network operator, on its Series A preference share funding by Sequoia Capital and Salim Group and Series B preference share funding by Sequoia Capital.
- Represented Arrium Ltd, an international diversified mining and materials company, on the US$1.23 billion sale of U.S. based Moly-Cop division to private equity firm American Industrial Partners.
- Strategic investor in S$118 million Series C investment in M-DAQ Pte Ltd, creator and operator of the Aladdin FX solution for e-commerce platforms, representing a valuation of S$250 million, concurrent with an investment by EDB Investments.
- Represented Luxola Pte Ltd, a Singapore-based e-commerce platform, and its shareholders, on its acquisition by French luxury goods conglomerate LVMH through its cosmetics subsidiary Sephora.
- Represented PT Solusi Tunas Pratama Tbk, on the US$465 million sale and leaseback of 3500 telecommunication towers by PT XL Axiata Tbk, as well as the completed sale and leaseback of telecommunication towers by PT. Hutchinson CP Telecommunications and PT. Inti Samudera Pasai, and the proposed sale and leaseback of towers by PT XL Axiata Tbk., PT. Axis Telekom Indonesia and PT. Indosat Tbk.
- Represented PT XL Axiata Tbk, as purchaser, and Axiata Group Berhad, as controlling shareholder, on the US$865 million acquisition of PT Axis Telekom Indonesia from Saudi Telecom Company, named as “M&A Deal of the Year” and “Indonesia Deal of the Year” by Asian Legal Business in 2014, and “Deals of the Year 2014” by Asian-MENA Counsel.
- Represented China ASEAN Infrastructure Fund on the acquisition of a minority stake in IDX-listed tower company, IBS Tower.
- Represented CEMEX Asia Holdings Ltd., a subsidiary of CEMEX, S.A. de C.V., one of the world’s leading cement companies, on the US$330 million cash sale of its 25 percent interest in PT Semen Gresik (Persero) Tbk. (Indonesia), a cement producer, to a subsidiary of the Rajawali Group.
- Represented Axiata Group Berhad (formerly Telekom Malaysia Berhad and TM Group) on the approximately US$1 billion cash acquisition of a controlling interest in PT Excelcomindo Pratama Tbk. and negotiation of shareholder arrangements with Etisalat
- Represented Indonesian Bank Restructuring Agency on the US$510 million auction sale of an equity interest in PT Bank Central Asia Tbk, named as “M&A Deal of the Year 2002” by Institutional Investor.
- Represented PT Telekomunikasi Indonesia (Persero) Tbk. on a series of transactions with PT Indosat Tbk. for the US$1.3 billion restructuring of the Indonesian telecom-munications industry (including a US$207 million acquisition of an Indonesian subsidiary of Cable & Wireless plc, and contesting and settling a US$1.3 billion arbitration claim by an Indonesian subsidiary of AT&T Wireless Services, Inc.), named FinanceAsia’s “2001 Most Innovative M&A Deal of the Year.”
- Represented Telenor AS on the US$207 million acquisition of a strategic interest in Malaysian telecommunications operator DiGi. and the US$713 million acquisition of a strategic interest in Thai telecommunications operator D-TAC and its parent United Communications Industry PLC.
- Represented Vietjet Aviation Joint Stock Company on its proposed issuance of high-yield securities listed on the SGX including a Regulation S international offering.
- Represented Carlyle Group and Southern Capital Group on the proposed secondary sale of shares of PT Solusi Tunas Pratama Tbk including a Rule 144A/ Regulation S international offering.
- Represented PT Solusi Tunas Pratama Tbk on its issuance of US$300 million 6.25% Senior Notes due 2020 including a Rule 144A/ Regulation S international offering.
- Represented PT XL Axiata Tbk on its US$510 million offering of rights to subscribe for shares listed on the IDX including a Rule 144A/ Regulation S international offering.
- Represented PT Soechi Lines Tbk., Indonesia’s largest independent tanker shipping company, on a proposed issuance of US$200 million Guaranteed Senior Notes due 2020 including a Rule 144A/ Regulation S international offering.
- Represented PT ABM Investama Tbk, on its initial public offering of US$222 million of shares listed on the IDX including a Rule 144A/ Regulation S international offering.
- Represented the solicitation agent on the consent solicitation for amendments to covenants in the 6.25% Notes due 2017 issued by BW Group Limited.
- Represented PT Garuda Indonesia (Persero) Tbk, on a US$350 million privatization and IPO of shares listed on the IDX including a Rule 144A/ Regulation S international offering.
- Represented Axiata Group Berhad, as selling shareholder, and PT XL Axiata Tbk, as issuer, on a US$600 million secondary share sale including a Rule 144A/Regulation S international offering.
- Represented PT Tower Bersama Infrastructure Group Tbk., on an initial public offering of US$200 million of shares listed on the IDX including a Rule 144A/ Regulation S international offering.
- Represented PT Jasa Marga (Persero) Tbk., on its US$371 million privatization and initial public offering of shares listed on the IDX including a Rule 144A/Regulation S international offering.
- Represented PT XL Axiata Tbk. on issuance of US$250 million 7.125% Guaranteed Notes due 2013 including a Rule 144A/Regulation S offering, tender offer and consent solicitation for amendments on its US$250 million 7.125% Guaranteed Notes due 2013; and mandatory tax redemption of its US$350 million 8.0% Guaranteed Notes due 2009.
- Represented PT Trans-Pacific Petrochemical Indotama and its founders on various restructuring transactions relating to the construction and operation of a US$1.5 billion aromatics facility at Tuban, East Java, Indonesia including a US$400 million structured finance completed in cooperation with PT Pertamina (Persero), the Government of Indonesia, SMBC, Mitsui, JBIC and NEXI named “Asia-Pacific Petrochemicals Deal of the Year 2004” by Project Finance; a US$350 million secured trade finance facility with UOB as lead arranger, US$255 million structured mezzanine financing, and the related intercreditor arrangements, as well as extended restructuring negotiations with all creditor classes.
- Represented the joint lead international selling agents in the US$330 million IPO and privatization of PT Bank Mandiri (Persero) Tbk, including a Rule 144A/ Regulation S international offering, named in 2003 as “Best Deal in Indonesia” by FinanceAsia, “Best Overall Equity Deal” and “Best Privatization” by Asiamoney, “Best Bank IPO in Asia” by The Asset, a “Commended Equity Deal in Asia” by Euromoney, a “Highly Commended IPO” by Corporate Finance, “Best Deal in Indonesia” by The Banker, and one of the “Equity Deals of the Year” by CFO Asia.
- Represented PT Polytama Propindo on a consent solicitation, covenant defeasance and exchange offer restructuring of the U.S.-registered high yield debt US$200 million Guaranteed Secured Notes due 2007.
- Represented the underwriters on the US$700 million IPO and privatization of the Petroleum Authority of Thailand into PTT PLC including a Rule 144A/ Regulation S international offering, named FinanceAsia’s “2001 IPO of the Year.”
- Represented Protelindo, on tower leasing, build-to-suit and colocation agreements with PT Hutchison 3 Indonesian governing a minimum portfolio of 6000 towers.
- Represented SilTerra, a Malaysian semi-conductor manufacturer, on negotiation of its licensing agreements with IBM.
- Represented PT XL Axiata Tbk (XL Axiata), a leading Indonesian mobile phone operator, on negotiation of managed services agreement with Amdocs.
- Represented XL Axiata on renewal of licensing agreements with Oracle Corporation and managed services agreement with BT.
- Represented PT iForte Solusi Infotek, on a US$62 million space segment capacity agreement with Telesat.
- Represented edotco Myanmar Limited on the amendment of master tower lease agreements with Myanmar Posts and Telecommunications.
- Represented edotco Myanmar Tower Limited (formerly Digicel Asian Holdings Pte Limited and Digicel Myanmar Tower Limited) on agreements with Ooredoo Myanmar Limited and Telenor Myanmar Limited to build and lease telecommunications for network rollout in Myanmar.
- Represented Splash Mobile Money Limited on software licensing and development agreements for mobile money transfer and payment services in Sierra Leone, West Africa.
- Represented PT XL Axiata Tbk., on agreements for telecommunication towers leasing, technology managed services, national roaming and sales and distribution transactions.
M&A/ Venture Capital
Equity & Debt Securities
- Singapore (Foreign Lawyer)
- England and Wales
- University of San Francisco School of Law, J.D., 1992
- Dartmouth College, B.A., 1986
- Duane Morris LLP
- Partner, 2017-present
- Duane Morris & Selvam LLP
- Director, 2017-present
- Sidley Austin LLP
- Partner, 2013-2017
- Counsel, 2011-2012
- Skadden Arps Slate Meagher & Flom LLP
- Counsel, 2006-2011
- Associate, 2000-2006
- Coudert Brothers
- Associate, 1998-2000
- Graham & James LLP
- Associate, 1994-1998
- American Bar Association
Honors and Awards
Recognized in the area of Capital Markets Law by Best Lawyers in Singapore since 2018
Ranked in Chambers Asia-Pacific 2019 for Corporate/M&A-Indonesia
Ranked in Chambers Global 2019 for Corporate/M&A (International Firms)-Indonesia, Corporate/M&A-Singapore
Listed in The Legal 500 Asia Pacific 2019 as recommended lawyer in Capital Markets - Foreign Firms, Corporate and M&A - Foreign Firms, Corporate and M&A - Local Firms and TMT - Local Firms
Ranked in Chambers Global 2018 for Capital Markets (International Firms) and Corporate/M&A (International Firms)-Indonesia, Capital Markets and Corporate/M&A-Singapore
Leading Individual (Capital Markets, Indonesia and Corporate/M&A, Indonesia Expert based abroad) - The Legal 500 Asia Pacific 2018
- Chinese (Mandarin)
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In Singapore, Duane Morris Singapore LLP and Selvam LLC operate a Joint Law Venture serving clients throughout Asia, Duane Morris & Selvam LLP, pursuant to Licence 2/2010 granted by the Attorney General of Singapore. Selvam LLC lawyers may provide services to clients of Duane Morris & Selvam under secondment from Selvam LLC pursuant to Licence 2/2010.
Selected Speaking Engagements
"Sale and Leaseback of Telecommunications Towers," CLE and Client Presentation, 2018
"Overview of Covenants In High-Yield Debt Securities," CLE Presentation, 2018
"Sale & Purchase Agreements, Conditions Precedent, Warranties & Indemnities," Closing, CLE Presentation, 2017
"Privacy and Cloud Computing," Client Presentation, 2016
"Standard Tax Clauses in M&A Transactions," CLE Presentation, 2016
"Drafting Licensing Agreements," Client Presentation, 2015