Sampoerna Group finally obeyed the call from Bank Indonesia to change the special purpose vehicle (SPV) for the acquisition of PT Bank Dipo Internasional in a bid to help ease monitoring.
Formerly the business group of Sampoerna used overseas firm SPV, the Singaporean-based Orient Distributor Network Pte Ltd, to acquire Bank DIpo. Now the SPV is substituted by PT Sampoerna Investama.
Formerly the business group of Sampoerna used overseas firm SPV, the Singaporean-based Orient Distributor Network Pte Ltd, to acquire Bank DIpo. Now the SPV is substituted by PT Sampoerna Investama.
Michael J. Sampoerna finally chose Sampoerna Investama as the SPV for the acquisition of Bank Dipo as it uses the corporate legal system of Indonesia. Sampoerna Investama is also under control of Michael Sampoerna which serves as the substitution.
Sampoerna Investama is limited corporation with Indonesian legal body headquartered in the Sampoerna Strategic Square with 99.996 percent ownership of Michael J. Sampoerna and the rest is by Eka Dharmajanto Kasih.
The Dipo Internasional has either announced the acquisition scheme to media early this month mentioning that the bank will focus on the small and medium enterprises financing.
Sampoerna took over 85 percent shares or 102 million share units worth IDR102 billion shares of Pahalamas that initially controlled 90 percent of shares and now it only owns 15 percent shares or 18 million shares.
Sampoerna alone has injected IDR155 billion funds to Sampoerna Investama to increase capitalization by April 29, 2010.
The acquisition of Bank Dipo formerly was blocked by BI as it called Sampoerna to change the SPV in a bid to ease the supervision. Previously Sampoerna used Orient Distributor Network Pte Ltd as the SPV.
Sampoerna Investama is limited corporation with Indonesian legal body headquartered in the Sampoerna Strategic Square with 99.996 percent ownership of Michael J. Sampoerna and the rest is by Eka Dharmajanto Kasih.
The Dipo Internasional has either announced the acquisition scheme to media early this month mentioning that the bank will focus on the small and medium enterprises financing.
Sampoerna took over 85 percent shares or 102 million share units worth IDR102 billion shares of Pahalamas that initially controlled 90 percent of shares and now it only owns 15 percent shares or 18 million shares.
Sampoerna alone has injected IDR155 billion funds to Sampoerna Investama to increase capitalization by April 29, 2010.
The acquisition of Bank Dipo formerly was blocked by BI as it called Sampoerna to change the SPV in a bid to ease the supervision. Previously Sampoerna used Orient Distributor Network Pte Ltd as the SPV.
Sampoerna Group early the year has made deal to acquire Bank Dipo after more than a year suspension. The 2008 economy crisis became the trigger of the suspended corporate action.
Sampoerna Group aggressively made expansion by acquiring various companies majoring in telecommunication, agribusiness, and financing sectors.
Putera Sampoerna, the father of Michael Sampoerna, tapped IDR18.6 trillion from the divestment of 40 percent shares at the cigarette company, PT HM Sampoerna Tbk.
Following the transaction, the group here is actively seeking acquisition of some companies both domestic and international ones.
Sampoerna Group aggressively made expansion by acquiring various companies majoring in telecommunication, agribusiness, and financing sectors.
Putera Sampoerna, the father of Michael Sampoerna, tapped IDR18.6 trillion from the divestment of 40 percent shares at the cigarette company, PT HM Sampoerna Tbk.
Following the transaction, the group here is actively seeking acquisition of some companies both domestic and international ones.
No comments:
Post a Comment