It is reported that Bank Mandiri, a major state owned bank, intends to acquire Bank Permata, a prominent private bank. The plan follows the Government of Indonesia’s policy on single presences in the Banking sector, which aims to improve Indonesian banking competition in the international market.

Dentons HPRP Partner, Giovanni Mofsol Muhammad, provided his opinion on this issue by being quoted as an expert source in national publications. In addition to the single presence policy, Giovanni also mentioned that the parties involved in this transaction should consider the anti-monopoly and unfair business competition policy. His opinion was published by Kontan, Tribun, Swa, Okezone, Republika, Liputan 6, Berita Satu, Neraca, Warta Ekonomi, Sindo, and Investor Daily.

HPRP’s financial services practice group has been successfully assisting in many financial transactions, conventional and sharia, local and international. For further information related to the services provided, please contact the partners listed under key contacts.

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