The state-owned lender PT Bank Mandiri today announced acquisition on PT Asuransi Dharma Bangsa (ADB) in a bid to form a general insurance company which enables to tap growing business of general insurance.
Bank Mandiri and AXA S.A., another shareholder in ADB, are keen to participate a capital enlargement. As a result, the capital raising will change the controlling shareholder in ADB in which Bank Mandiri to control 60% shareholding of enlarged capital.
AXA will own the remaining stake in ADB. The insurance company will have capital paid in of Rp100 billion.
Disclosure: No position at the stock mentioned above.
Print This Article