JAKARTA (TheInsiderStories) – The Salim Group, through a life insurance and pension fund, PT Indolife Pensiontama, purchased over than six percent shares of PT Bank Mega Tbk (IDX: MEGA), a company owned by local tycoon, Chairul Tanjung, the management announced yesterday.
With the assumed price Rp7,000 on Dec. 29, the transaction value could reach Rp2.96 trillion (US$211 million). Up now, the shareholders of the lender are PT Mega Corpora 68.02 percent and public 41.98 percent.
The acquirer, Indolife along with with PT Philadel Terra Lestari owned by Pieter Tanuri, has became the ultimate shareholder of other local lender, PT Bank Ina Perdana Tbk (IDX: BINA). The entry of the financial firm to Bank Mega related to the expansion of the Mega Corpora, the financial business armed of CT Corp.
The parent just obtained approval from the Financial Service Authority to takeover 73.71 percent shares of PT Bank Harda Internasional Tbk (IDX: BBHI) from PT Hakimputra Perkasa. Tanjung’ financial firm plans to get an approval from the shareholders on Jan. 29.
Based on the planned, Mega Corpora will carry out a tender offer for the remaining shares owned by public. The tender offer price is set at Rp160.26 a share. The company also will become the new shareholder of PT Bank Bengkulu, after acquired 26 percent of regional lender.
The company will injected fresh capital Rp100 billion by buying new shares of Bank Bengkulu. If the share purchase is successful, it will become the third regional bank bought by Mega Corpora after owned 24.90 percent of PT Bank of Sulawesi Utara Gorontalo (Bank Sulut Go) and PT Bank Sulawesi Tengah.
Based on the financial reports as of Sept. 30, majority shares of the lender is the regional government of Bengkulu amounted to 44.28 percent and the rest were owned by 10 cities and regencies. The spokesman, Fanny Irfansyah, said the bank was an obligation to fulfilling the minimum core capital of Rp1 trillion by the end of 2020 and Rp3 trillion in 2022.
Currently, the core capital of Bank Bengkulu about Rp853.12 billion. While, as of Oct. 31, 2020, Bank Bengkulu booked a net profit Rp126 billion an increase of 126 percent compared to the same period of last year. Total assets of the lender stood at Rp8.45 trillion supported by loan growth worth of Rp5.74 trillion and third party funds of Rp7.23 trillion.
Financial Service Agency has announced the regulator can force Indonesian banks to consolidate, merging or other steps to maintain financial stability amid the COVID-19. The agency also has authority to give written orders to banks to merging, consolidating, taking over or integrating.
In addition, written orders are given to lenders that meet the criteria based on the regulator assessments. There are also some adjustments to the process of merging, consolidation, acquisition, or integration of the lenders, said the agency.
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