Paribas buys Dynaplast

Paribas buys Dynaplast

JAKARTA (JP): European investment and banking firm Paribas has
bought about nine million Dynaplast shares or 7 percent of the
company.

The European company's manager in Indonesia, Patrick Egron,
said yesterday Paribas had been present in Indonesia for 22 years
through a representative office and Paribas-BBD Indonesia, a
joint venture bank with Bank Bumi Daya.

Paribas' total assets and equity last year were US$270 billion
and $15 billion respectively.

Meanwhile, PT Dynaplast, which makes plastics, electrical
cables and wire, will use the proceeds of its second right issue
to set up new factories in Indonesia and India, strengthen its
working capital, and to increase its stake in its subsidiary, PT
Dynaplast Cubic Indonesia, to about 70 percent. (bnt)