HHP Law Firm acted as the lead counsel to Rabobank in the sale of Bank Rabobank International Indonesia ("Rabobank") to Bank Central Asia Tbk and its subsidiary BCA Finance. This cross-border deal was completed on 25 September 2020. After operating a retail bank in Indonesia for 30 years, this sale marked the implementation of Rabobank's global strategy to pivot from the retail banking market to concentrate on wholesale banking.
Our Banking and Finance team who specialises in bank M&As -- comprising of Senior Partner Erwandi Hendarta, Partner Mahardikha Sardjana and Associate Johan Kurnia -- advised Rabobank on this transaction.
"We are honored to have been a long-term advisor to Rabobank, for its retail presence in Indonesia in the past. We look forward to continuing our support for Rabobank's strategic vision of Banking for Food," said Erwandi, who is also the Head of the Finance & Projects practice group, and leads the sub-practice specialising on bank M&As.
HHP Law Firm has been a longstanding legal advisor to Rabobank and has acted in previous M&A work with them, specifically the complex merger of three banks in 2008 where Bank Hagakita and Bank Haga were merged into Bank Rabobank International Indonesia.