SOE minister to summon BRI and Jamsostek over Bukopin

The State Ministry of State Enterprises will summon two state firms: PT Bank Rakyat Indonesia (BRI) and pension company PT Jamsostek over their interest in buying a stake in private bank PT Bank Bukopin.

“We will summon them to decide which firm will buy the stake of Bukopin,” SOE Minister Mustafa Abubakar said in Jakarta on Wednesday.

Previously, BRI and Jamsostek said they wanted to acquire a 30 percent stake in Bukopin. The state enterprises minister later asked Jamsostek to drop its plan on the grounds that its business was not in-line with Bukopin’s core business.

Separately, Bukopin has rejected BRI’s plan to acquire stake, saying it will sell a 30 percent stake in a rights issue next year to maintain its capital adequate ratio at 12 percent.