Dec 21, 2010

Djarum boosts stake in BCA

Djarum Group jacks up its domination as the largest owner of PT Bank Central Tbk (BCA) by purchasing 515 million shares from UBS Securities.
Djarum completed this purchase through its subsidiaries, PT Tricipta Mandhala Gumilang and PT Caturguwiratna Sumapala. Both units are the controlling shareholders of PT Sarana Menara Nusantara Tbk.
“Through Credit Suisse, it [Djarum] buys 515 million BCA shares at Rp6,700 per share from UBS Securities,” a person familiar with the deal told today.
According to the person familiar with the matter, Djarum Group now holds 50.24% of BCA shares after taking over 515 million shares, which equals to 2.25%.
Djarum is a business belonging to Hartono brothers, Robert and Michael. These two tycoons, with fortune as much as US$1.1 billion, have recently been listed as the richest people in Indonesia by Forbes.
Vice President BCA Jahja Setiaatmadja declined to comment when Bisnis asked him for confirmation.

Disclosure: No position at the stock mentioned above.

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