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Commonwealth Bank of Australia, Others Eye Rabobank's Indonesia Unit-Reuters


Tuesday, 15 Jan 2013 11:49pm EST 

Reuters reported that Commonwealth Bank of Australia, Industrial And Commercial Bank of China Ltd and Qatar National Bank SAQ are among the suitors expected to submit preliminary bids to buy Rabobank's Indonesian unit in a $400 million deal. First-round bids are due by the end of January, and some suitors are already working with financial advisers to place indicative proposals. The strong line-up for Rabobank's Indonesian business reflects foreign banks' interest in increasing their presence in Southeast Asia's biggest economy, where more than half the population of 240 million still do not have bank accounts. Financial terms and conditions of the deal were not disclosed.