MUFG Bank, Ltd. and PT Adira Dinamika Multi Finance Tbk (IDX:ADMF) agreed to acquire 80.6% stake in PT Mandala Multifinance Tbk (IDX:MFIN) from Pt Jayamandiri Gemasejati and others for IDR 7 trillion on June 26, 2023. As per the transaction, MUFG Bank, Ltd. will acquire 70.6% and PT Adira Dinamika Multi Finance Tbk will acquire 10% stake in PT Mandala Multifinance Tbk. The transaction is subject to the receipt of approvals from the relevant regulatory authorities and is expected to be completed by early 2024. Yusuke Yoshimoto and Luky Walalangi of Nishimura & Asahi acted as legal advisor to MUFG Bank, Ltd. Greenhill & Co., LLC acted as financial advisor to PT. Jayamandiri Gemasejati. Jamie McLaren, Lucy Curran, Nicole Chow and Amanda Tay of Herbert Smith Freehills LLP acted as a legal advisor to PT. Jayamandiri Gemasejati.

MUFG Bank, Ltd. and PT Adira Dinamika Multi Finance Tbk (IDX:ADMF) completed the acquisition of 80.6% stake in PT Mandala Multifinance Tbk (IDX:MFIN) from Pt Jayamandiri Gemasejati and others on March 13, 2024.