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ACQUISITION - JAKARTA. PT Adira Dinamika Multi Finance Tbk (Adira Finance) has spoken up about the latest news regarding the acquisition plan of PT Mandala Multifinance (MFIN) or Mandala Finance.
Adira Finance's Chief Financial Officer, Sylvanus Gani, stated that the acquisition is currently in the licensing stage.
"The licensing process is still ongoing, today (13/2) there is also an Extraordinary General Meeting of Shareholders from Mandala and we will wait for the right time for the transaction to be completed," he said during a press conference in Central Jakarta on Tuesday (13/2).
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Gani stated that the value of the Mandala Finance acquisition is equivalent to IDR 874 billion. Previously, the acquisition was reported to be completed in the first quarter of 2024.
On the other hand, Mandala Finance's Managing Director, Cristel Lasmana, once stated that the acquisition would have a positive impact on the company.
"So, for the impact on Mandala itself, it might focus on expanding services and strengthening our financial position. Thus, from the initiatives we want to run, we are also more supported by joining their ecosystem. So, in terms of business, of course, the most visible financial position, as well as from innovation and the development of our services in the future," she said when met in Central Jakarta, on Wednesday (24/1).
After the acquisition is completed, Cristel stated that Mandala Finance will still focus on retail financing. Because that has been the strength or asset controlled by Mandala Finance for 26 years of its establishment. She also explained that the acquisition does not suddenly change the company's business to other fields, for example, corporations.
"So, we are quite familiar with the last 26 years operating in the retail sector. Therefore, we focus on the retail segment itself and pay attention to their needs," she revealed.
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In addition to Mandala Finance, Adira Finance also made an acquisition of PT Home Credit Indonesia (Home Credit) which was completed on October 2, 2023. Adira Finance took 9.98% ownership of Home Credit with a share purchase value of IDR 386 billion.
At the beginning of February 2024, Adira Finance also received funding from MUFG Bank Ltd. and several other banks worth US$ 300 million.
