JAKARTA (TheInsiderStories) Industrial Bank of Korea (IBK) will obtain 4.59 million shares or 87.34 per cent of PT Bank Agris Tbk (IDX: AGRS) fully paid capital, the small lender announced on Tuesday (6/2). The seller namely PT Dian Intan Perkasa and Benjamin Jiavaranon.

However, this transaction is still under discussion between IBK and shareholders. As for the approval of shareholders, Bank Agris said it would hold an Extraordinary General Meeting of Shareholders on March 9, 2018.

Currently, Dian Perkasa owned 82.59 per cent shares of Bank Agris while Benjamin Jiaravann has 0.28 per cent and the remaining 17.13 per cent is owned by the public. After the transaction, Dian Perkasa was diluted to 1 per cent and the shares owned by the public decreased to 11.66 per cent.

Based on the bank’s statement the purpose of IBK to conduct these transactions to participate in government programs to support the consolidation of banking in Indonesia. In addition, IBK also hopes to create a strong and healthy banking system to accelerate the consolidation.

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The Insider Stories Founder Linda Silaen has a solid, proven history, established over more than a decade as a journalist with a leading internasional news organization, of being the first with the biggest economic news stories in Indonesia. Specializing in corporate news, Linda is also a veteran of some of the biggest macroeconomic and general news stories as Indonesia rapidly transforms into a major market economy. One of the founders of the original blog from which this company developed, Linda’s knowledge of investors’ information communications and data us developed from unrivaled networking skills that make her a well-known name among CEOs, bankers, government officials and private equity investors both in Indonesia and other countries.

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