Sampoerna change SPV for acquire Bank Dipo

Bank Indonesia called Sampoerna Group to change special purpose vehicle (SPV) from foreign into local relating to the acquisition of PT Bank Dipo Internasional.

Sampoerna Group has reached deal with the shareholders of Bank Dipo to acquire 85 percent shares of non foreign exchange bank after last year delay.
Sampoerna Group plans to become single investr through Orient Distributor Network Pte Ltd, a Singaporean firm under control of Michael J. Sampoerna, the son of Putera Sampoerna.

The change based on the call for supervision so that BI could easily monitor the ultimate shareholder.

Sampoerna Group aggressively expand their business by acquiring some kinds of companies on telecommunication, agribusiness, and financial sectors. But Bank Dipo acquisition would be the fist expansion at banking for the Sampoerna.
Michael is the son of Putera Sampoerna, the owner of Sampoerna Group. Meanwhile, Orient is the trade company based in Singapore owned by the same group.
Putera Sampoerna, the father of Michael Sampoerna, taped IDR18.6 trillion from the divestment of 40 percent shares of cigarette company PT HM Sampoerna Tbk.
After the transaction, the group is actively planning for acquisition of some companies. Few have been done will domestically and internationally.
Bank Dipo is owned by PT Pahalamas Sejahtera with 42 percent possession or 12.5 billion shares, Suhanti Poniman 48 percent or 14.5 billion and Suhada Poniman with 10 percent or 3 billion shares.