Ms. Elsie F. Hakim
Elsie joined ABNR as an associate in 2007 and was made partner on 1 January 2018. A 2005 graduate of the University of Indonesia’s Faculty of Law, where she majored in business law, she was awarded an LL.M cum laude in 2012 by Maastricht University, majoring in international and European economic law.
At ABNR, Elsie focuses her practice on banking, fintech, corporate & FDI, and financial restructuring. She has also participated in various other transactions involving diverse practice areas, such as offshore IPOs, asset securitizations, BASEL compliance reviews, and equity investments.
Representative Work Highlights 2017-2018
- Acted for Sumitomo Mitsui Banking Corporation in relation to all aspects of its USD 72 million acquisition of approx. 35 percent interests in each of two Indonesian auto financing companies, PT Summit Oto Finance and PT Oto Multiartha;
- Acted for Korea Investment & Security Co. Ltd. (KIS), a S. Korean provider of financial and merchant banking services, in respect of all aspects of its acquisition of 75% of the share capital of Indonesian securities brokerage firm PT Danpac Sekuritas for a consideration of USD 36.6 million;
- Acted for South Korea’s Shinhan Bank in relation to all aspects of its acquisition of PT Bank Metro Express and PT Centratama Nasional Bank in 2015, and their subsequent merger to form Shinhan Bank Indonesia in mid-2017. This USD 115 million bank acquisition transaction was the first to use ABNR’s pioneering three-tier structure that allows an acquiring foreign bank to circumvent the 40% foreign ownership cap in the Indonesian banking sector;
- Acted for Industrial Bank of Korea in relation to its acquisition of approx. 90 percent interests in each of two publicly listed Indonesian banks, namely, PT Bank Agris, Tbk and PT Bank Mitraniaga, Tbk;
- Counsel to Singapore-based tobacco company Renzoluc Pte. Ltd., and its parent company, Korea Tobacco & Ginseng Corporation (S. Korea’s largest tobacco company) in relation to the acquisition of three Indonesian cigarette companies;