Jul 16, 2010

Sampoerna aims to buy 85% Bank Dipo

Sampoerna family through PT Sampoerna Investama intends to acquire 85% stakes in PT Bank Dipo International in the third quarter this year.
"Bank Dipo and Sampoerna Investama have completed documents required by Bank Indonesia," said Bank Dipo Director Wardoyo as reported by Kontan today.
According to him, Michael Sampoerna, son of Putra Sampoerna, former controlling share holder of cigarette maker PT HM Sampoerna Tbk (HMSP), owns 99.99% in Sampoerna Investama and Eka Dharmajanto Kasih holds the remaining stakes. But, Wardoyo declined to mention the acquisition value. 
After completing the acquisition, Sampoerna Investama aims to change Bank Dipo focus into syariah and small to medium enterprises. By the end of 2009, Bank Dipo posted net revenue of Rp80.05 billion and Rp14.38 billion of net profit.

Disclosure: No position at the stock mentioned above.

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