Media & Muat Turun
Siaran Akhbar

17 Julai 2005

New Strategic Shareholder in Bank Lippo – Khazanah Nasional Berhad

Khazanah Nasional Berhad (“Khazanah”) and Swissasia Global (“SAG”) are pleased to announce that, Khazanah and its wholly owned subsidiary Santubong Investments BV, have entred into a conditional sale and purchase agreement (“SPA”) to acquire SAG’s 52.05% equity stake in PT Bank Lippo Tbk (“Bank Lippo”) for cash consideration of between IDR 3.18 trillion and IDR 3.30 trillion (“Proposed Acquisition”).

The purchase consideration represents a price-to-book multiple of 2.5x – 2.6x based on 31st March 2005 audited accounts. The actual purchase consideration will be finalized upon completion of the 30th June 2005 audited accounts.

Khazanah is committed to the long-term development of Indonesia and views this investment as an important milestone towards futher strengthening the ties between Malaysia and Indonesia.

Khazanah believes that Bank Lippo’s franchise and banking infrastructure will provide an excellent platform to participate in the growth opportunities and strong underlying fundamentals of the Indonesia economy. Bank Lippo has access to over 2.8 million customers, and a strong track record of customer service and innovation.

Bank Lippo is listed on the Jakarta Stock Exchange and ranks as Indonesia’s ninth largest bank in terms of assets as of December 2004. The Proposed Acquisition is conditional upon the receipt of all regulatory approvals including approvals from Bank Indonesia and the approval of the shareholders of Bank Lippo. SAG has obtained the consent of the Ministry of Finance to sell its entire shareholding in Bank Lippo to Santubong Investments B.V prior to the expiry of the lockup period pursuant to the sale and purchase agreement between SAG and the Indonesian Banking Restructuring Agency (“IBRA”).

The above approvals and other conditions precendent to the Proposed Acquisition are expected to be fulfilled within eight to twelve weeks. Khazanah will be making a tender offer for the remaining shares in Bank Lippo upon completion of the Proposed Acqusition.

Khazanah was advised by BNP Paribas, SAG was advised by Merill Lynch and Bank Lippo was advised by UBS.

Issued by
Khazanah Nasional Berhad and Swissasia Global
17th July 2005
 



Siaran Akhbar Lain
15 Mei 2024

Konsortium diterajui Khazanah dan KWSP umum tawara...

Selanjutnya  

11 Mac 2024

Khazanah catat keuntungan RM5.9 bilion bagi 2023, ...

Selanjutnya  

9 Mac 2024

Khazanah lancar inisiatif #BerbudiBersama untuk me...

Selanjutnya  

6 Mac 2024

Khazanah Umum Ketua Pengawai Pelaburan Baharu...

Selanjutnya  

3 Januari 2024

Khazanah Nasional Berhad dan CGC Digital mengumumk...

Selanjutnya  

7 November 2023

Cabaran Impak Inovasi Khazanah 2023 umum 3 Pemenan...

Selanjutnya  

13 Oktober 2023

Kenyataan Dato’ Amirul Feisal Wan Zahir, Pengara...

Selanjutnya  

10 Oktober 2023

Perkongsian 15 tahun Khazanah dan GTI memperkukuh ...

Selanjutnya  

5 Oktober 2023

CDP Group dan Khazanah Nasional Berhad tandatangan...

Selanjutnya  

12 September 2023

Khazanah dan Khazanah Research Institute, dengan k...

Selanjutnya