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Rabobank's Indonesian unit up for grabs

Rabobank’s Indonesian unit up for grabs

(16 January 2013 – Indonesia) Industrial and Commercial Bank of China (ICBC), Qatar National Bank and Commonwealth Bank of Australia (CBA) are expected to submit preliminary bids on Rabobank’s Indonesian unit for about US$400 million (A$380 million) according to sources. The first-round bids are due by the end of January, and some suitors are already working with financial advisers to place indicative proposals, the sources added.

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 that process.

None of the banks commented on the potential bidding.
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