Milbank LLP advised the private equity sellers in the divestment of their 80% interest in PT Finansia Multi Finance, an Indonesian multi-finance firm, to KB Kookmin Card, the credit card operator of KB Financial Group. The transaction marks KB Kookmin Card’s first majority investment in Indonesia as it expands its presence in Southeast Asia.
The Milbank team was led by Singapore partner Jacqueline Chan with support from associates Min Kim and Stephanie Kam and legal assistant Gabby Wong.
Ms. Chan said: “This transaction attests to the confidence in Indonesia’s growing consumer finance sector and we are pleased to have assisted our clients in bringing this transaction to a successful close against the background of significant global disruption.”
