JAKARTA – PT Hanwha Life Insurance Indonesia (HLII) to take over 47.69% of PT Lippo General Insurance Tbk (LPGI) from PT Inti Anugerah Pratama (IAP) and PT Star Pacific Tbk (LPLI). This conditional sale and purchase agreement between the future owner and two original LPGI’s shareholders was signed last week (1/4).
Satini Kartika Sari, Corporate Secretary of Lippo General Insurance, confirmed that HLII would purchase 42.79% of IAP’s portion and 4.90% of LPLI’s portion in the company. “The new controlling shareholder is a subsidiary of Hanwha Life Insurance Co Ltd with 99.61% ownership percentage,” she mentioned further in the information disclosure quoted Tuesday (5/4).
Not only that, Hanwha General Insurance (HGI), another subsidiary of Hanwha Life Insurance, will also acquire 14.9% of LPLI’s shares in LPGI.
After this transaction is concluded, Hanwha Life, the parent company of HLII and HGI, will become the new controlling shareholder of LPGI, owning 57.69% of the shares. For the record, until February 2022, LPGI’s shares reportedly reached 150 million, 19.8% of which belonged to LPLI. IAP claimed 65.79% of them, leaving the public with the remaining 14.41%. (LK/ZH)