Qatar’s QNB eyes Indonesia takeover

Qatar National Bank (QNB) is reportedly among at least three bidders for the Indonesian unit of Dutch Rabobank. The deal is expected to have a value of $400 million, sources with knowledge of the matter say.

First-round bids are due by the end of January 2013, and some suitors are already working with financial advisers to place indicative proposals, the sources said. Apart from QNB, Commonwealth Bank of Australia and Industrial and Commercial Bank of China are also expected to bid for the Indonesian lender.

The deal would be subject to Indonesia’s new bank ownership rules that cap foreign ownership in domestic banks at 40 percent, subject to some exemptions from the central bank.

Rabobank, which has its roots in the Dutch farming sector, is shedding subscale and nonstrategic businesses to focus its international operations on the agricultural industry. The planned sale of its Indonesian unit is part of this process.

Qatar National Bank is one of the largest banks in the Middle East and has an ownership structure split between the Qatar Investment Authority and the private sector.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

Qatar National Bank (QNB) is reportedly among at least three bidders for the Indonesian unit of Dutch Rabobank. The deal is expected to have a value of $400 million, sources with knowledge of the matter say. First-round bids are due by the end of January 2013, and some suitors are already working with financial advisers to place indicative proposals, the sources said. Apart from QNB, Commonwealth Bank of Australia and Industrial and Commercial Bank of China are also expected to bid for the Indonesian lender. The deal would be subject to Indonesia's new bank ownership rules that cap foreign ownership...

Qatar National Bank (QNB) is reportedly among at least three bidders for the Indonesian unit of Dutch Rabobank. The deal is expected to have a value of $400 million, sources with knowledge of the matter say.

First-round bids are due by the end of January 2013, and some suitors are already working with financial advisers to place indicative proposals, the sources said. Apart from QNB, Commonwealth Bank of Australia and Industrial and Commercial Bank of China are also expected to bid for the Indonesian lender.

The deal would be subject to Indonesia’s new bank ownership rules that cap foreign ownership in domestic banks at 40 percent, subject to some exemptions from the central bank.

Rabobank, which has its roots in the Dutch farming sector, is shedding subscale and nonstrategic businesses to focus its international operations on the agricultural industry. The planned sale of its Indonesian unit is part of this process.

Qatar National Bank is one of the largest banks in the Middle East and has an ownership structure split between the Qatar Investment Authority and the private sector.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

2 COMMENTS

Leave a Reply