Nishimura & Asahi and its Indonesian association firm Walalangi & Partners have represented Japan’s MUFG Bank on its proposed 7-trillion-rupiah ($467 million) acquisition of an 80.6 percent stake in automotive lender PT Mandala Multifinance.

Mandala is a publicly listed finance company offering auto loans primarily to Indonesia's unbanked and underbanked population.

MUFG’s move is aimed at deepening its Asian presence and tapping consumption growth in the emerging markets, Reuters reported, adding that Japanese and other Asian companies have been increasingly looking to build and expand their footprint in Southeast Asia in the hope of capturing a growing middle class in a region with a population of about 690 million.

Partner Yusuke Yoshimoto led the N&A team, while the Walalangi team was headed by managing partner Luky Walalangi.