BNI Officially Annexed Bank Mayora Owned By Conglomerate Jogi Hendra Atmadja, Transaction Value Of IDR 3.5 Trillion

Photo: Doc. Mayora Bank

JAKARTA - PT Bank Negara Indonesia Tbk (BNI) has completed the acquisition process of the bank owned by the conglomerate Jogi Hendra Atmadja, PT Bank Mayora. BNI will transform this bank into a digital bank.

The completion of the acquisition was carried out by depositing funds for new shares issued by Bank Mayora and purchasing old shares belonging to the International Finance Corporation (IFC).

The sale and purchase deed transaction with IFC was carried out on 18 May 2022 in the presence of Jose Dima Satria SH as a Notary. The deed of the takeover of shares with Bank Mayora is also made on the same date the shares appear before the same notary.

With the implementation of the takeover of Bank Mayora, BNI recorded holding 1,198,229,838 shares of Bank Mayora or representing 63.92 percent of the total issued and fully paid shares.

After the transaction, Mayora Inti Utama's remaining share ownership became 36.08 percent. That way, BNI is legally the controlling shareholder of Bank Mayora.

BNI Corporate Secretary Mucharom said that the acquisition was effective after the signing of the deed of sale and purchase and the takeover agreement, obtaining a decision from the Minister of Law and Human Rights (Menkumham) dated May 18, 2022, receiving the Letter of the Minister of Law and Human Rights Non-AHU-AH 01.03-0238599 on May 18 regarding receipts. notification of changes to the articles of association of Bank Mayora, as well as a Letter of the Minister of Law and Human Rights regarding receipt of notification of changes to Bank Mayora's company data.

"The takeover of Bank Mayora by the Company will have a positive impact on the Company's performance and support the Company's transformation into a digital-based integrated financial solution provider," Mucharom said in information disclosure on the Indonesia Stock Exchange (IDX) website, quoted on Friday, May 20.

In the presentation of BNI's performance in the first quarter of 2022, the transaction value of Bank Mayora's acquisition is stated to reach IDR 3.5 trillion. Transactions are carried out with multiple 2x pre money price to book value (PBV). After the placement of funds, the PBV multiple becomes 1.3x.