Bangkok Bank purchases 89.12% of Bank Permata's shares
JAKARTA - Bangkok Bank purchased 89.12% of the shares of PT Bank Permata Tbk (BNLI) from PT Astra International Tbk (ASII) and Standard Chartered Bank (44.56% each). All parties had signed a conditional share sale agreement yesterday (12/12).
As quoted from the company's disclosure, Katharine Grace, Corporate Secretary of PT Bank Permata Tbk (BNLI) said that the price used in the transaction was decided based on the company's book value before the transaction. "Based on the company's value on 30 September 2019, the price per share will be Rp 1,498. Payment will be made in cash when the transaction is completed," he said.
According to him, the settlement of the transaction should be done no later than 12 months after the agreement is signed. The transfer of shares has no impact on business continuity. (LK/AR)