Skip to main content

Hadiputranto Hadinoto & Partners (HHP) has advised Japan's largest financial group, Mitsubishi UFJ Financial Group (MUFG) on its strategic acquisition of 73.8 percent of Bank Danamon Indonesia.

The transaction is expected to bolster MUFG’s growth in Asia and Oceania, aiding the growth of banking sector in Indonesia, Reuters said, adding the estimated value of the deal was more than $6 billion

Japanese and other Asian banks are increasingly targeting a presence in Indonesia in hopes of tapping an emerging middle class in an economy with population of over 250 million, reported Reuters. Danamon is the latest by a string of deals by highly-acquisitive MUFG, which already holds stakes in Vietnam’s VietinBank, Thailand’s Bank of Ayudhya and Security Bank of the Philippines.

Senior partner Erwandi Hendarta, HHP’s head of finance and projects, led the transaction, with support from Jakarta-based partners Mahardikha Sardjana and Indah Respati.

Related Articles

JSA, CAM, Khaitan act on $2.3 bln Ayana Renewable sale

by Nimitt Dixit |

Indian law firm JSA Advocates & Solicitors has advised ONGC NTPC Green on its $2.3 billion acquisition of Ayana Renewable Power from National Investment and Infrastructure Fund (NIIF), British International Investment and private equity firm Eversource Capital.

Kirkland, Links, Llinks, CM act on CATL’s planned $5 bln HK IPO

Kirkland & Ellis and Llinks Law Offices are advising Chinese EV battery giant Contemporary Amperex Technology (CATL) on its proposed initial public offering on the Hong Kong Stock Exchange, with Linklaters and CM Law Firm advising the underwriters.

Paul Hastings, Latham lead on $827 mln LG CNS Korea IPO

Paul Hastings has advised South Korean tech services firm and LG Group member company LG CNS on its 1.2-trillion-won ($827 million) global offering and listing on the Korea Exchange, with Latham & Watkins advising the bookrunners.