Yulchon advised The Korea Development Bank on its acquisition of PT. Tifa Finance Tbk, an Indonesian multi-finance company
2020.09.08.
Yulchon successfully advised The Korea Development Bank on its acquisition of PT. Tifa Finance Tbk, an Indonesian multi-finance company.
After executing the share purchase agreement in December 2019, the effects of COVID-19 imposed unexpected challenges for the parties to conclude the transaction. However, Yulchon was able to successfully assist KDB in consummating the transaction in close cooperation with KDB and KDB’s other advisors. The importance of this transaction was to enable KDB to enter the Indonesian corporate finance and infrastructure development finance markets.
Yulchon provided a full range of legal services to KDB in the course of the transaction, including drafting, negotiating and executing the MOU and other transaction documents, conducting legal due diligence, advising on deal structuring, and assisting with obtaining the required governmental approvals.
After advising KDB’s first ever acquisition of a foreign financial institution in 2010 – the KDB acquisition of RBS Uzbekistan, an Uzbek bank -- Yulchon was able to successfully advise KDB on the present transaction based on experience and expertise gained from assisting a number of Korean financial institutionsin their efforts to expand to the Southeast Asian market.
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