January 16, 2013 / 3:56 AM / in 5 years

Australia's CBA, ICBC eye Rabobank's Indonesia unit-sources

HONG KONG/JAKARTA, Jan 16 (Reuters) - Commonwealth Bank of Australia, Qatar National Bank and Industrial and Commercial Bank of China are among the suitors expected to submit preliminary bids to buy Rabobank’s Indonesian unit, in a $400 million deal, sources said.

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.

CBA, ICBC, and Qatar National Bank declined to comment. Rabobank did not reply to an email seeking comment. The sources declined to be identified because the sale process was confidential. (Reporting by Denny Thomas and Janeman Latul; Additional reporting by Dinesh Nair, Saeed Azhar and Maggie Lu-YueYang; Editing by Chris Gallagher)

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