Apr 20, 2011

Sampoerna proceeds Bank Dipo takeover

Sampoerna Business Group has obtained a green light from Bank Indonesia to acquire PT Bank Dipo Internasional after the deal has been put on hold for 3 years.
A source who knows about the transaction, as quoted by Bisnis Indonesia daily, revealed that the permission which has been issued by Bank Indonesia (BI) in this week after the acquisition process of Bank Dipo was clear.
Director of Directorate of Banking Permission and Information of BI Joni Swastanto did not give any responses when he was asked for a confirmation. Similarly, Compliance Director of Bank Dipo Wardoyo also did not answer the phone call which seeking for further confirmation.
Chief executive officer of Sampoerna Microfinance Indra Supriadi did not give any argument related to the permission to acquire Bank Dipo which has been issued by the government.
In 2008, Sampoerna submitted an interest to acquire majority shares of Bank Dipo which followed by the due diligence process. However, in the end of 2008, the plan has to be postponed concerning the impact of global economic crisis.

Disclosure: No position at the stock mentioned above.  

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