BRI - JAKARTA. PT Bank Rakyat Indonesia Tbk (BBRI) targets the acquisition of Danareksa Sekuritas to be completed by the end of 2018. Previously at the end of September 2018, BRI had completed a sale and purchase agreement of 67% of Danareksa Sekuritas shares worth Rp. 447 billion.
According to Haru Koesmahargyo, BRI Finance Director of Danareksa Sekuritas, the acquisition is still awaiting approval from the Financial Services Authority (OJK).
"The OJK permit will be issued in November 2018 so that it is likely that before the end of 2018 BRI could obtain effective permission from the regulator to own 67% of the shares of Danareksa Sekuritas," Haru said in a performance presentation on Wednesday (10/24).
This means that by the end of this year BRI will officially have a new securities subsidiary, Danareksa Sekuritas.
In addition to the acquisition of Danareksa Sekuritas, at the end of the year OJK is expected to issue licenses for BBRI related to equity participation in Danareksa Investment Management (DIM) of 35% or Rp 372 billion.
BRI will also invest in a subsidiary of Bahana Artha Ventura, NTT Artha Ventura. The amount of capital investment is Rp. 3 billion.
Previously, at the end of November 2017, BRI announced that it had purchased 35% of Bahana Artha Ventura (BAV). Then equity participation in Bahana Venura and its subsidiaries will be used to develop the company's capital business through fintech.
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