State-Owned Enterprises Minister Mustafa Abubakar confirmed Friday that private bank PT Bukopin had conveyed its decision not to sell their stake to state-bank PT Bank Rakyat Indonesia (BRI).
“I think it is OK. Bukopin likely has closed the opportunity to let BRI buy its stake and has revised its plan,” Mustafa told reporters in Jakarta.
On Thursday, Bukopin revealed its plan to sell a 30 percent stake in a rights issue next year to maintain its Capital Adequate Ratio (CAR) to 12 percent.
Beside BRI, state pension company PT Jamsostek was also interested in buying the stake in Bukopin. However the SOE Ministry asked Jamsostek to withdraw its bid and allow BRI to acquire Bukopin.
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