JAKARTA. PT Bank OCBC NISP Tbk (NISP) has obtained approval from the Financial Services Authority (OJK) regarding the plan to acquire shares in PT Bank Commonwealth.

In its official statement today, NISP Management announced that this agreement had been obtained on January 23, 2024. In accordance with the initial plan, NISP will take over 4.31 million shares or the equivalent of 100% of Bank Commonwealth  shares.

This corporate action will automatically make NISP the controlling shareholder of Bank Commonwealth. Previously, Bank Commonwealth was controlled by Bank of Australia (CBA) with a share ownership of 99%.

The transaction value for the acquisition of Bank Commonwealth shares carried out by NISP is estimated at IDR 2,219 trillion. The source of funds that will be used by NISP comes from its internal cash.

As a follow-up to the acquisition plan, NISP will hold an External General Meeting of Shareholders (GMS) on March 18, 2024. The acquisition process is targeted to be completed on May 1, 2024. (KR/LM)