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Korea M&A Corporation
Mitsubishi UFJ, Acom to buy Bank Nusantara Parahyangan 본문
Jakarta (ANTARA News) - PT Bank Nusantara Parahyangan said Japan's Mitsubishi UFJ Financial Group Inc and Acom Co Ltd are proposing to acquire a 75.41 pct stake in the company and will later make a tender offer for the remaining shares.
In a published prospectus, Bank Nusantara said it has already signed a sales and purchase agreement with UFJ and Acom on Nov 27.
No financial details were provided.
Bank Nusantara said the entry of UFJ and Acom will not only increase its capital structure but will also allow it to benefit from UFJ's strong capital and Acom's worldwide experience in consumer financing.
The deal is still subject to approvals from regulators as well as approval from Bank Nusantara's minority shareholders at an upcoming shareholders meeting scheduled for Jan 5, 2007.
Bank Nusantara is small-scale bank with total assets of 3.13 trln rupiah as of end- September. In the first nine months of this year, it posted net profit of 16.21 bln rupiah on interest income of 262.41 bln rupiah.
As of Nov 24, PT Hermawan Sentral Investama held a 14.99 pct stake in Bank Nusantara; PT Hermawan Ladang Arta 14.03 pct; PT Gucimas Sukses Makmur 4.11 pct; PT Gema Megah Korporindo, PT Teradana Megah, PT Binadana Nata Arta 3.95 pct each; UBS AG Singapore 12.65 pct; Credit Suisse 9.10 pct and retail investors 33.27 pct.
Mitsubishi UFJ Financial Group Inc was formed last year through a merger between Mitsubishi Tokyo Financial Group and UFJ. It has a strategic and capital alliance with Acom Co. (*)
In a published prospectus, Bank Nusantara said it has already signed a sales and purchase agreement with UFJ and Acom on Nov 27.
No financial details were provided.
Bank Nusantara said the entry of UFJ and Acom will not only increase its capital structure but will also allow it to benefit from UFJ's strong capital and Acom's worldwide experience in consumer financing.
The deal is still subject to approvals from regulators as well as approval from Bank Nusantara's minority shareholders at an upcoming shareholders meeting scheduled for Jan 5, 2007.
Bank Nusantara is small-scale bank with total assets of 3.13 trln rupiah as of end- September. In the first nine months of this year, it posted net profit of 16.21 bln rupiah on interest income of 262.41 bln rupiah.
As of Nov 24, PT Hermawan Sentral Investama held a 14.99 pct stake in Bank Nusantara; PT Hermawan Ladang Arta 14.03 pct; PT Gucimas Sukses Makmur 4.11 pct; PT Gema Megah Korporindo, PT Teradana Megah, PT Binadana Nata Arta 3.95 pct each; UBS AG Singapore 12.65 pct; Credit Suisse 9.10 pct and retail investors 33.27 pct.
Mitsubishi UFJ Financial Group Inc was formed last year through a merger between Mitsubishi Tokyo Financial Group and UFJ. It has a strategic and capital alliance with Acom Co. (*)
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