JAKARTA. PT Bank Central Asia Tbk (BBCA), through its subsidiary in the field of vehicle financing, PT BCA Finance, officially acquired the shares of PT Bank Rabobank International Indonesia (Rabobank Indonesia) from the Rabobank Group.
The signing of a conditional sale and purchase agreement (CSPA) between the two parties was done on 11 December 2019, which was subject to OJK approval. In the CSPA, BCA Finance acts as a buyer with Cooperative Rabobank UA, PT Aditirta Suryasentosa, PT Anatarindo Optima, PT Antariksabuana Citanagara, and PT Mitra Usaha Kencana Sejati as the sellers.
The transaction is in line with Rabobank Group's plan to cease operations in Indonesia, following the changes made in the group's global strategy.
Raymon Yonarto, Corporate Secretary of BCA, said in the disclosure on the Indonesia Stock Exchange (IDX) on Wednesday (11/12) that in the agreement, the buyers of [BCA Finance] would purchase 3,719,070 of Rabobank Indonesia shares, representing all share capital placed and paid by the sellers.
The estimated value of the transaction is Rp 397 billion. "This value will be adjusted by calculating Rabobank Indonesia's income or loss at the date of the transaction completion," he said. (AM/AR)