JAKARTA. PT Bank Mandiri Tbk (BMRI) has been prioritised to purchase the shares of PT Bank Permata Tbk (BNLI). Bank Mandiri reportedly has increased the offering price 1.8 times from the price to book value (PBV).
As reported by CNBC Indonesia, Bank Mandiri is prioritised due to the regulation that makes it easier. Bank Mandiri and Morgan Stanley have also gone through a due dilligence process to conduct the purchase.
"Astra and StanChart are prioritising Bank Mandiri because OJK's regulation concerning the purchase of a bank by foreign investors has to go through a few stages," said an anonymous source.
A request for confirmation from BMRI Corporate Secretary Rohan Hafas has gone unanswered.
Previously, BMRI has entered an offer with a price 1.5 times from the PBV. The PBV is usually used to compare the company's stock market price with its book price.
The process has also reportedly been discussed in the OJK. Previously, CNBC Indonesia's source had revealed that the OJK prefers Bank Maniri as Bank Permata's buyer.
A number of Japanese banks such as Mitsubishi UFJ Financial Group, Japan Post Bank, Mizuho Financial Group, and Sumitomo Mitsui Financial Group are also rumoured to be interested in buying Bank Permata shares. Three of those banks are already affiliated with Indonesian banks. (AM/MS)