Reignwood International Investment (Group) Co. Ltd acquired 20% stake in Ancara Resources Limited from PT Bakrie & Brothers Tbk (IDX:BNBR) for $70 million on December 14, 2020. As reported, the stake was acquired in exchange for the cancellation of a $70 million loan owed by the Bakrie Group to Reignwood. James C. Lin of Davis Polk & Wardwell LLP, Hong Kong Office and Hiswara Bunjamin & Tandjung acted as legal advisors to Reignwood International Investment (Group) Co. Ltd. Reignwood International Investment (Group) Co. Ltd completed the acquisition of 20% stake in Ancara Resources Limited from PT Bakrie & Brothers Tbk (IDX:BNBR) on December 14, 2020.