Bentala sells Aetna shares

JAKARTA (JP): PT Bentala Kartika Abadi (Bentala) announced on Tuesday the sale of its 8.7 million shares in PT Aetna Life Indonesia to PT ING Insurance Indonesia.

The proceeds of the sale, which totaled about Rp 12.4 billion, will be used to reduce the Bentala Group's debts to the Indonesian Bank Restructuring Agency (IBRA).

IBRA said that the sale of Bentala's stake in Aetna was expected to give more assurance to the public of the group's good faith in repaying its loan to the agency.

Bentala's stake in Aetna Life Indonesia was about 9.31 percent. Aetna Life Insurance of America owns 80 percent and Usman Admadjaya owns the other 10.69 percent. (hen)