SSEK Law Firm acted as Indonesian counsel to AXA in connection with the €5.4 billion acquisition of AXA Investment Managers (AXA IM) by BNP Paribas Cardif, part of the BNP Paribas Group.
SSEK advised on the Indonesian legal and regulatory aspects of the transaction, including the sale of the shares in PT AXA Investment Managers Select Indonesia to PT BNP Paribas Asset Management. The completion of the acquisition also marks the beginning of preparations for the merger of PT AXA IM Select Indonesia into PT BNP Paribas AM.
The SSEK team was led and supported by partners Nico A.P. Mooduto and Maria Yudhitama Eka Dewi, with associates Olivia Karlina and Tsabita Nur Zhahira.
Sullivan & Cromwell LLP (France) acted as lead international counsel to AXA.
The combination of AXA IM and BNP Paribas would create a leading European asset manager with total assets under management of approximately €1.5 trillion, strengthening BNP Paribas' global investment management platform. AXA Group is a worldwide leader in insurance and asset management, with 147,000 employees serving 94 million clients in 50 countries.