Karen Phang

Senior Foreign Legal Advisor, Jakarta

"I specialise in complex cross-border Corporate M&A transactions with a focus on Indonesia. I offer pragmatic and commercially-oriented solutions to steer our clients through complex regulatory and execution issues on their most strategic transactions in Indonesia."


Education and qualifications


Karen is a Corporate M&A partner with more than 10 years’ experience advising a broad range of clients on their transactions and businesses in Indonesia. She advises on M&A, JVs, strategic collaborations, restructurings and business expansions, primarily in the financial services, technology, digital economy and consumer services sectors. A partner with Linklaters, Karen is currently on secondment as Senior Foreign Legal Advisor with our alliance firm, Widyawan & Partners, in Jakarta.

Karen started her career in Malaysia and worked in Linklaters’ Singapore office, before moving to Jakarta.

Work highlights

As a core member of Linklaters’ financial institutions group (FIG) practice and Technology practice, Karen has worked on some of the largest and most significant recent transactions in these sectors in Indonesia and the broader Southeast Asian region, including:

  • Sumitomo Mitsui Banking Corporation (SMBC) on the merger of PT Bank Sumitomo Mitsui Indonesia with PT Bank Tabungan Pensiunan Nasional Tbk (previously 40%-owned by SMBC) to form PT Bank BTPN Tbk, in one of the largest recent transactions in the Indonesian banking sector
  • Insurance Australia Group on the sale of its subsidiaries in Thailand (Safety Insurance Public Company Limited) and Indonesia (PT Asuransi Parolamas) to Tokio Marine & Nichido Fire Insurance Co., Ltd.
  • Temasek on its investment in PT Aplikasi Karya Anak Bangsa (GO-JEK) Indonesia's first unicorn and leading on-demand services company
  • PT Astra International Tbk (Astra), one of Indonesia’s largest companies, on its joint venture with WeLab, a leading technology-based consumer lending company in China and Hong Kong, to provide technology-enabled and data-powered financial products and solutions to consumers in Indonesia
  • GO-JEK on its joint venture with Astra in relation to GO-JEK’s four-wheel ride-hailing business in Indonesia
  • Sun Life Financial on the buy-out of CIMB Group’s shareholding in their joint venture, PT CIMB Sun Life, in Indonesia in order to comply with the government’s “single presence” regulations

Education and qualifications

Karen studied law in the University of Malaya, and holds a Master of Laws from the University of Cambridge.

She speaks English, Malay and Indonesian.