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SSEK Advises Woori Bank On Acquisition Of Stake In Listed Indonesian Bank.

17 March, 2014

 

Soewito Suhardiman Eddymurthy Kardono acted as Indonesian counsel to Woori Bank of South Korea in its purchase of a 33 percent stake in Indonesia’s Bank Himpunan Saudara 1906 for 713.1bn Rupiah, about USD 60m. 

 

Securing approval from Indonesia’s central bank, Bank Indonesia, for the purchase took about 18 months amid an evolving regulatory environment for bank acquisitions in the country. With this purchase, the Woori Bank hopes to increase its presence in the Indonesian market.

 

Partner Fahrul S. Yusuf and senior associate Bezaliel E. Basuki led the SSEK Team handling the deal.

 

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