Aug 22, 2010

BNI to dispose BNI Securities

Publicly listed PT Bank Negara Indonesia Tbk (BNI) has obtained an offer from a strategic investor interested to acquire its wholly owned subsidiary PT BNI Securities.
BNI Finance Director Yap Tjay Soen said talks have been held between BNI and the investor. But, he declined to name the investor.
"A prominent name investor will enter BNI Securities. We are underway to set the disposal," he said as reported by
BNI Securities's sale is aimed to improve performance of the securities house. BNI initially planned to divest BNI Securities in the first half of this year with a sales target worth Rp300 billion. BNI also aims to sell BNI Life.

Disclosure: No position at the stock mentioned above.

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