Bukopin rejects BRI acquisition offer

JAKARTA: Bank Bukopin has formally rejected a proposal by state-owned PT Bank Rakyat Indonesia (BRI) to buy
a majority stake in the mid-sized bank, a BRI top executive has said.

“Bukopin rejected our proposal to become a majority shareholder. We respect their decision,” BRI president
director Sofyan Basir said as quoted by Detikfinance.

BRI recently acquired mid-sized Bank Agroniaga. Sofyan said BRI had no plan to acquire another bank following its failure to take over Bukopin.

State-Owned Enterprises Minister Mustafa Abubakar confirmed on Friday that Bukopin rejected BRI’s offer.

Separately, Bukopin president director Glen Glenardi said Bukopin shareholders rejected the takeover plan because it was not in line with the bank’s long-term strategy. — Lnd/JP