Expertise: Mergers & Acquisitions

SSEK Advises Woori Bank on Acquisition of Stake in Listed Indonesian Bank

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SSEK 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 713.1 billion Rupiah, about US$61 million. Securing approval from Indonesia’s central bank, Bank Indonesia, for the purchase took about 18 months amid an evolving regulatory environment for bank acquisitions … SSEK Advises Woori Bank on Acquisition of Stake in Listed Indonesian Bank

Indonesian Banks Get New Ownership Rules

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Indonesia’s central bank, Bank Indonesia (“BI”), has issued a regulation designed to improve the competitiveness of the banking system by streamlining bank ownership through consolidation and enhancing supervision, particularly in the area of good corporate governance. BI Regulation No. 14/24/PBI/2012 regarding Single Ownership in Indonesian Banks was issued on December 26, 2012. It addresses what … Indonesian Banks Get New Ownership Rules