Bank Rajawali acquired<\/p>\n
JAKARTA (JP): State-owned PT Pos Indonesia and two pension
\nfoundations acquired 25 percent of Bank Rajawali under an
\nagreement signed here yesterday.<\/p>\n
Informed banking sources said that under the agreement, the
\nbank is now 10 percent owned by Pos Indonesia, 10 percent by Pos
\nIndonesia's Pension Fund Foundation and 5 percent by the Pension
\nFund Foundation of the state-owned PT Telkom.<\/p>\n
The bank's paid-in capital was increased to Rp 150 billion
\n(US$54 million) from Rp 100 billion as a result of the entry of
\nthe new shareholders, the sources added.<\/p>\n
They said Bank Rajawali's remaining 75 percent shares are
\nowned by the Rajawali Group which is controlled by businessman
\nPeter Sondakh.<\/p>\n
The bank, expected to be relaunched with in October, is now
\nwaiting for approval from the Ministry of Justice for changes in
\nits shareholding composition.<\/p>\n
Minister of Tourism, Post and Telecommunications Joop Ave said
\nrecently the bank, to be called PT Bank Pos Nusantara, would
\nconcentrate on small and micro businesses.<\/p>\n
Bank Rajawali had Rp 505.27 billion assets as of last
\nDecember. (icn)<\/p>",
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"sponsor": "Okusi Associates",
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