Milbank LLP advised CVC Capital Partners in its more than US$1 billion investment in PT Siloam International Hospitals Tbk (“Siloam”), an Indonesian-listed company that is the largest private hospital operator in Indonesia. The transaction involved a CVC fund-to-fund acquisition as well as a part acquisition from the previous controlling shareholder of Siloam, PT Lippo Karawaci Tbk (“Lippo”), which continues to hold a minority stake in Siloam and remains as a joint venture partner with CVC. Lippo is also listed on the Indonesia Stock Exchange and is Indonesia’s leading real estate and healthcare platform. The Milbank team was led by Milbank Global Corporate Group partner Andrew Whan and included associates Charmaine Yeo, Joyce Chin, Matthew Leung and Darren Lam.