Rabobank acquires Indonesian bank for USD85 million
Netherland-based Rabobank is acquiring an Indonesian bank (HB) for USD85 million to be merged with its Indonesian subsidiary PT Rabobank International Indonesia.
"Rabobank is reportedly won the bid to acquire the bank at 3.2 of book value," an investment banker told me this morning.
The Indonesian bank is owned by a group which also own the largest listed private-owned bank in Indonesia. "It seems that the group is anticipating Central Bank's single presence policy as they would not be allowed to own more than one bank," he said.
What is the name of the bank?
Details of the acquisition will follow. Hints: The bank has total assets of Rp3.05 trillion as of December 2005 and booked net profit of Rp36 billion in 2005. The bank has a sister bank with almost the same name, but with one word added behind it. Watchout!
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"Rabobank is reportedly won the bid to acquire the bank at 3.2 of book value," an investment banker told me this morning.
The Indonesian bank is owned by a group which also own the largest listed private-owned bank in Indonesia. "It seems that the group is anticipating Central Bank's single presence policy as they would not be allowed to own more than one bank," he said.
What is the name of the bank?
Details of the acquisition will follow. Hints: The bank has total assets of Rp3.05 trillion as of December 2005 and booked net profit of Rp36 billion in 2005. The bank has a sister bank with almost the same name, but with one word added behind it. Watchout!
Labels: Single Presence
READ MORE!!!
posted by yosef at 10:50 AM
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