Feb 21, 2011

BNI to sell 25% stake in BNI Securities

A Japanese investor is now conducting a due diligence on PT BNI Securities, a wholly owned brokerage house of PT Bank Negara Indonesia Tbk (BNI). The Japanese investor is interested to acquire 25% shareholding in BNI Securities.
A source close to the deal said the due diligence is expected to complete at end of March. "If terms and conditions are agreed by both parties, the shares sale will be completed at end of March," the source said.
According to the source, it is not Daiwa Securities nor Nomura Securities. "Their name is not familiar in Indonesia."
BNI President Director Gatot M. Suwondo confirmed that the bank plans to sell 25% stake in BNI Securities in a bid to strengthen capital.. "Yes, divestment is underway," Gatot said as quoted by Bisnis Indonesia.
However, he declined to name the Japanese investor. "We will announce their name later."

Disclosure: No position at the stock mentioned above.

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