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Goldman Sachs Indonesia sees three sectors leading M&A deals this year
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This October 2014 file photo shows a screen on the trading floor of the New York Stock Exchange behind the Goldman Sachs booth. Goldman Sachs reported its financial results on Wednesday. (AP/Richard Drew)
G
oldman Sachs Indonesia, the local unit of US-based Goldman Sachs Group, is keeping an eye on potential merger and acquisition (M&A) deals coming from three sectors in Indonesia this year, to support growth in its underwriting and consultancy service.
Goldman Sachs Indonesia managing director Harry Naysmith said the investment bank had recently seen increasing activity and a number of its offshore clients were looking for potential opportunities in Indonesia.
“People are always interested in oil and gas, consumer goods and the financial sector, such as insurance companies and banks. The good thing here is that there are a lot of opportunities in Indonesia,” he told editors at a gathering on Wednesday.
(Read also: Goldman Sachs to pay $5 billion in mortgage settlement)
However the bank, which was the runner-up in the M&A business in Indonesia last year, declined to specify the number of potential deals it was working for this year. “We still don’t know whether the deal-getting done, but there is an increase in activity,” he said.
Edward Naylor, a spokesman for Goldman Sachs in Hong Kong, highlighted that the firm only eyed big and important deals. Goldman Sachs Indonesia had managed to assist HM Sampoerna's rights issue worth US$1.9 billion, Link Net’s share sale and Siloam Hospital's initial public offering (IPO).
Globally, Goldman’s investment-banking business, which includes merger advisory and underwriting, reported $1.5 billion in revenue versus $1.6 billion a year earlier. “In the last 10 years, we’re number one in M&A globally,” Harry said. (ags)
