PT Bank Negara Indonesia Tbk has reached the deal to sell 48% shares of PT
Bank Finconesia to Charoen Pokhpan Group, an agribusiness company from
Thailand.
An executive getting involved in the transaction said that Charoen has
planned to change the bank into specialized bank for animal farming.
"The deal has been reached last December. BNI will use the money to
support its expansion plan," he said in Jakarta yesterday.
The transaction will be concluded this year.
BNI Corporate Secretary Elvyn G Masassya said he did not know the news as
he was on vacation.
Bank Indonesia Director for Banking License and Information, Yang Ahmad
Rizal, said that he has not got any report from BNI and from Bank
Finconesia. "There is no report."
The share price of BNI closed 1.55% lower to IDR1,910 from IDR1.940 on the
previous day so that the market cap was IDR29.17 trillion.
Since last April BNI has been waiting for investors who would like to
acquire the mixed bank. But most investors have been asking to get
controlling stake in the bank.
BNI has targeted to conclude the sale this year as it will use the money
to acquire some small banks.
Bank Finconesia is a mixed bank. Last year Charoen, through PT Dian Intan
Perkasa, has acquired 51% shares of Bank Finconesia from Commerzbank
Aktiengesellschaft of Germany at US$58.8 million. Commerzbank has bought
the stocks from BNI in 2002.
As much as 99% credit of Finconesia has been for corporate sector.
Following the transfer of ownership the bank will increase the allocation
for SME to 25%.
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