JAKARTA – Aseana Insurance Pte Ltd considers purchasing 62.33% of Mapfre Internacional, one of the shareholders of PT Asuransi Bina Dana Arta Tbk (ABDA). President Director of ABDA, Herliniawaty Sutanto, announced the intention in the information disclosure quoted Tuesday (8/3).
“Aseana plans to acquire 386,924,893 shares or 62.33% of the entire shares issued by the company,” Sutanto confirmed.
According to Sutanto, Aseana will arrange a mandatory tender offer (MTO) after becoming the new controlling shareholder of ABDA. “The controlling position of ABDA will be reassigned to Aseana once the negotiation is concluded,” she added.
Aseana is known as a Singapore-based company backed up by Warburg Pincus LLC and its affiliates.
As of February 2022, ABDA’s shares amounted to 620,806,680 shares. Bank of Singapore Ltd controlled 62.33% of them, while the public had 37.67%. (LK/ZH)