Conglomerate Eddy Kusnadi Sariaatmadja's Business Is Getting More And More Exciting Because He Has Just Completed The Acquisition Of Bank Fama, How Much Is It Worth?

Conglomerate Eddy Kusnadi Sariaatmadja. (Photo: Doc. Wikimedia Commons)

JAKARTA - The business of one of the richest people in Indonesia, Conglomerate Eddy Kusnadi Sariaatmadja is getting more and more popular. This is because the PT Elang Mahkota Teknologi Tbk (EMTK) group officially acquired a 93 percent stake in PT Bank Fama International on December 22, 2021.

This acquisition was carried out by Emtek through its subsidiary PT Elang Media Visitama (EMV). EMV has signed the deed of sale and purchase of shares on December 22, 2021 and then effectively acquired Bank Fama afterwards.

EMV now owns 9,089,503,800 shares with a par value of Rp908,950,380,000, equivalent to 93 percent of the company's issued and paid-up capital.

"After this transaction is completed, EMV has 93 percent ownership of the total issued and paid-up capital in FAMA. Funding for the takeover transaction will use EMV's internal funds," Emtek wrote in an information disclosure on the Indonesia Stock Exchange website, quoted on Saturday, December 25.

The shares purchased by EMV consisted of 4,428,701,427 shares owned by Junus Jen Suherman, 1,704,285,876 shares owned by Edi Susanto, 1,704,285,876 shares owned by Dewi Janti, and 1,252,230,621 shares owned by PT Surya Putra Mandiri Sejahtera.

The takeover of Bank Fama is in line with EMV's long-term business plan to expand its business in Indonesia, including to support the government's movement to improve financial literacy and banking access in the MSME sector.

Previously, Bank Fama had postponed its initial public offering (IPO) plan in the domestic capital market. IDX Director of Corporate Valuation, I Gede Nyoman Yetna Setia said, Bank Fama was not included in the IDX share listing pipeline this year.

In fact, previously the management of Bank Fama had submitted the e-IPO prospectus on the stock exchange website, although its status was eventually canceled. Bank Fama previously offered as many as 13.12 million lots of shares with an offered price of IDR 298 per share up to IDR 328 per share.