Bakrie to acquire firms<\/p>\n
JAKARTA (JP): The publicly-listed finance division of Bakrie
\nGroup, Bakrie Finance Corporation, plans to buy majority share
\nholdings in three finance companies: PT Dinaro Modal Finance, PT
\nAsemka Pratama Leasing and PT Asuransi Jiwa Centris.<\/p>\n
Bakrie Finance announced Tuesday it planned to acquire a 95
\npercent stake (4,750 shares) in Dinaro Modal, a 75 percent stake
\n(7,500 shares) in Asemka Pratama and a 70.9 percent stake (5,031
\nshares) in Asuransi Jiwa Centris.<\/p>\n
The acquisitions are expected to be approved at the company's
\nextraordinary meeting early next month.<\/p>\n
Some of Bakrie Finance's assets and its multi-finance division
\nwill be merged into Dinaro Modal, according to the announcement.<\/p>\n
The transfer of assets and its main business services must
\ncomply with finance ministry regulations regarding restrictions
\non non-bank financial institutions' equity going to other firms.<\/p>\n
According to the regulation, a non-bank financial
\ninstitution's equity invested in another company may not exceed
\n25 percent of the institution's paid-up capital. And the
\ninstitution's total equity investments should not exceed 40
\npercent of its paid-up capital.<\/p>\n
If its plans go ahead, Bakrie Finance would end up operating
\nsolely as a holding company.<\/p>\n
Bakrie Finance said it would offer to buy Asuransi Jiwa
\nCentris shares for between Rp 777 and Rp 1,583 (approximately 65
\nU.S. cents) each.<\/p>\n
Bakrie Finance did not disclose the price of its bid for
\nDinaro and Asemka shares. (hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bakrie-to-acquire-firms-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}