Qatar’s QNB eyes Indonesia takeover

Reading Time: 1 minute

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.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 1 minute

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.

Reading Time: 1 minute

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.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid