JAKARTA - PT Astra International Tbk. one of the shareholders of Bank Permata revised the selling price agreed upon with Bangkok Bank at the end of last year.
The price change was conveyed through the disclosure of information on the Indonesia Stock Exchange on Monday (20/4) through a letter signed by the Corporate Secretary of Astra International Gita Tiffani.
PT Astra International Tbk. stated that it signed an amendment to a conditional share purchase agreement (CSPA) with Standard Chartered Bank and Bangkok Bank Public Company Limited on 20 April 2020.
In the amendment, the price of Bank Permata shares was changed from 1.77 times the price to book value (PBV) to 1.63 times the PBV.
The letter also states that the amendment will only apply if the transaction can be settled on or before 30 June 2020. "If this does not happen, then the amendment letter will be null and void, so the applicable provisions are the initial CSPA," she said. (ARM/AR)