TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsSumitomo Mitsui completes BTPN acquisition
Sumitomo Mitsui Banking Corporation (SMBC) concluded thepurchase of a 40 percent stake belonging to publicly listed PT Bank TabunganPensiunan Nasional (BTPN) on Friday
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
S
umitomo Mitsui Banking Corporation (SMBC) concluded thepurchase of a 40 percent stake belonging to publicly listed PT Bank TabunganPensiunan Nasional (BTPN) on Friday.
Sumitomo's ownership in BTPN has now increased from 24.26 percent to 40 percent.
The Japanese company first bought a stake of 24.3 percent in BTPN from TPG Nusantara S.a.r.l. for Rp 6,500 (57 US cents) a share in May last year, with the intent to increase its stake to 40 percent.
'We hope that SMBC will give added value to our business development because it has the expertise and experience to encourage the advancement of BTPN,' said BTPN president director Jerry Ng in a press statement released Friday.
SMBC is a subsidiary of bank holding and financial services company Sumitomo Mitsui Financial Group Inc. and the 40 percent purchase of BTPN has been its biggest purchase of a foreign financial firm.
BTPN shares were being traded for Rp 4,850 on the Indonesia Stock Exchange on Friday, an 8 percent increase from the previous closing.
