Bangkok Bank to acquire another Indonesian bank after Permata deal: OJK

first_imgThe majority of Bank Permata shares is owned by British financial giant Standard Chartered and Indonesian diversified conglomerate PT Astra International, with each owning 44.56 percent. Bank Permata operates 330 branches in 62 cities across Indonesia.The deal values Permata at 1.77 times its book value as per September 2019 and indicates a purchase price of Rp 1,498 (11 US cents) per share.The deal is expected to close in 2020 with Bangkok Bank set to make a mandatory offer for the remaining 10.88 percent of the shares at the same purchase price after completing the transaction to acquire the stakes from Standard Chartered and Astra. Thailand-based Bangkok Bank is planning to acquire another Indonesian bank after closing a deal to purchase a majority stake in Bank Permata from Standard Chartered and Astra International for US$2.7 billion, according to the Financial Services Authority (OJK).OJK commissioner for banking supervision Heru Kristiyana said Thursday that the bank was granted the approval to acquire Permata Bank, adding that the bank may purchase another Indonesian bank after completing the Permata deal.“It is already in their pipeline,” Heru told reporters in Jakarta without disclosing the name of the bank. “Everything is already on the right track with Bangkok Bank.” According to OJK Regulation No. 56/2016 on bank ownership, the OJK allows bank institutions and non-bank institutions to acquire a maximum 40 percent stake in local banks.Read also: Hopes high for Bank Permata after acquisition by Bangkok BankHowever, the OJK said it would allow investors to own more than 40 percent on the condition that they support financial system stability and help to develop the national economy.Bangkok Bank announced in December last year that it had agreed to buy 89.1 percent of publicly listed Bank Permata for around US$2.67 billion as part of its overseas expansion.center_img Topics :last_img read more

Update on the latest in sports:

first_imgUpdate on the latest in sports: Many men say they were molested by Dr. Robert E. Anderson while seeking treatment for various injuries.Anderson died in 2008. He worked at the university for decades until his retirement in 2003.NASCAR HALL OF FAMEBurton, Earnhardt, Edwards headline Hall of Fame nomineesCHARLOTTE, N.C. (AP) — Dale Earnhardt Jr., Jeff Burton and Carl Edwards are among the new nominees for NASCAR’s next Hall of Fame class. — The Canadian Grand Prix has become the latest Formula One race to be postponed because of the COVID-19 pandemic. The Montreal race was scheduled to take place June 12-14. It is the ninth F1 race to be postponed so far, with the French GP on June 26 now the set to be the opening event of the season.— Former No. 1 Caroline Wozniacki’s farewell to tennis — an exhibition match against good friend Serena Williams — is being postponed because of the coronavirus outbreak. The last tournament of the 29-year-old Wozniacki’s professional career came in January at the Australian Open. The Dane won her Grand Slam title there in 2018. She was supposed to face off against 23-time major champion Williams in Copenhagen on May 18 in a match dubbed “The Final One.”— Two of the biggest meetings in the British horse racing calendar have been postponed amid the coronavirus outbreak, despite previous hopes that the sport could return by the start of May. The Jockey Club says the Guineas Festival at Newmarket on May 2-3 and the English Derby Festival at Epsom on June 5-6 will not be staged on those dates.— The Italian and Catalan MotoGP races have been postponed because of the coronavirus outbreak. The motorcycling series has yet to start its season. Eight MotoGP races have now been called off because of the virus.— South Korea’s professional baseball league says it hopes to start practice games between teams on April 21 before possibly opening the season in early May. The Korea Baseball Organization says the plans are contingent on the country’s coronavirus caseload continuing to slow. The KBO will advise players to wear face masks in locker rooms and require them to download smartphone apps to report their daily health status to league officials. Bettman said the league is hoping to have a clearer picture of the impact of the coronavirus pandemic in the next few weeks, and that “nothing has been ruled in and nothing ruled out.”Bettman said the ideal scenario would be to complete the season to determine playoff seedings in fairness to teams involved in tightly contested races in both conferences. However, he adds: “We understand that may not be possible.”The live interview broadcast Tuesday marked the first time Bettman has mentioned the possibility of the league not being able to complete the regular season. There were 189 games remaining when play was postponed on March 12.In other developments related to the coronavirus:— The Canadian Football League is the latest sports league to postpone play because of the COVID-19 pandemic. The CFL, which was scheduled to kick off the regular season on June 11, announced Tuesday that the season won’t start before the beginning of July. Meanwhile, Arizona point guard Nico Mannion has joined fellow freshman teammate Zeke Nnaji in declaring for the NBA draft. Mannion arrived in Tucson as the highest-rated recruit in a class that included Nnaji and Josh Green. Mannion averaged 14 points and was second in the Pac-12 with 5.3 assists per game during his lone season at Arizona.UNIVERSITY OF MICHIGAN-DOCTORU. of Michigan reaching out to ex-athletes about late doctorCANTON TOWNSHIP, Mich. (AP) — The University of Michigan is sending a letter to thousands of former student-athletes, asking them to speak with investigators from a law firm it hired to lead a probe into a deceased doctor accused of molesting people.The Ann Arbor school says Tuesday the letter is going out to most of the 6,800 former student-athletes who were on campus between the mid-1960s and the early 2000s. April 7, 2020 The Oilers said on their Twitter account that the brain bleed happened overnight and that Cave was in the critical care unit at Toronto’s Sunnybrook Hospital.A 25-year-old from Saskatchewan, Cave scored once in 11 appearances with Edmonton this seasonCOLLEGE BASKETBALL-DRAFTSmith, Mannion declare for NBA draftUNDATED (AP) — Maryland forward Jalen Smith intends to enter the 2020 NBA Draft and forgo his remaining two years of eligibility. Smith averaged 15.5 points and 10.5 rebounds as a sophomore, helping the Terrapins to a 24-7 finish and a share of the Big Ten regular-season title. The 6-foot-10 star ranked first in the conference and third nationally with 21 double-doubles. Individual international sports federations will still be in charge of their qualifying procedures. But they have agreed to let athletes keep spots they already have earned.MLB-RED SOX-SALESale: No regrets about surgeryBOSTON (AP) — Boston Red Sox left-hander Chris Sale says he has no regrets about the timing of his recent Tommy John surgery and is confident he can return as a stronger pitcher following his rehab.  Sale had the procedure on his left elbow last month. The Red Sox said the surgery was a success.center_img — Former ice hockey player Roger Chappot of Switzerland has died due to COVID-19. He was 79. Chappot played more than 100 games for Switzerland’s national team, including at the 1964 Winter Olympics. The International Ice Hockey Federation says Chappot was first treated at a hospital two weeks ago. He returned home before his condition became worse and he was admitted to an intensive care unit.VIRUS-OLYMPIC QUALIFYINGAthletes already qualified for Tokyo Games get to keep spotsUNDATED (AP) — About 6,500 athletes who already have earned their spots in the Tokyo Olympics are in for 2021. The International Olympic Committee made it official under redrawn qualifying regulations released Tuesday.The IOC postponed the games by a year due to the new coronavirus. They’ll now be held July 23 through Aug. 8 next year. The new deadline for qualifying is June 29, 2021. Janet Guthrie returns as a nominee in the Landmark category after a one-year absence.The voting structure was changed for this year. There are three ballots: one for Modern candidates, one for Pioneer candidates and one for Landmark candidates.Two entries from the 10 Modern candidates will be elected, along with one entry apiece from the five-candidate Pioneer and Landmark categories.,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6 Associated Press Newton didn’t give any indication where he might be interested in signing.The 2015 league MVP played in only two games last season and is coming off foot surgery. He hasn’t been able to meet with NFL teams due to the coronavirus travel restrictions.NHL-OILERS-CAVEOilers forward Cave in coma after brain bleedUNDATED (AP) — Edmonton Oilers forward Colby Cave has been placed in a medically induced coma after suffering a brain bleed. Share This StoryFacebookTwitteremailPrintLinkedinRedditVIRUS OUTBREAK-SPORTSNHL commissioner says season may not be completedUNDATED (AP) — NHL Commissioner Gary Bettman has raised the possibility of not being able to complete the regular season. During an interview on NBCSN, he stressed that all options remain on the table. Sale is expected to miss 14 to 15 months, which would put him on track to return in the middle of the 2021 season.NFL-CAM NEWTONNewton feels like ‘fish out of water’CHARLOTTE, N.C. (AP) — Cam Newton says he feels like a “fish out of water” being a free agent for the first time in his nine-year NFL career.Newton says being released by the Carolina Panthers left him with a chip on his shoulder that has “turned into family-size real quick.” He made the comments during a conversation with Thunder guard Chris Paul on Instagram Live.last_img read more