JAKARTA - PT BPD Jawa Timur Tbk (BJTM) will acquire 476.19 million shares of the issued and paid-up capital of PT BPD Banten Tbk (BEKS). The shareholders have agreed upon the investment of IDR 10 billion in BEKS.

Edi Masrianto, Director of Finance, Treasury, and Global Services of BJTM, confirmed that the company and BEKS will negotiate and resolve other requirements.

“The negotiation materials currently under discussion is regarding the final plan of takeover and the conclusion timeline,” Masrianto said in the information disclosure quoted Monday (7/10).

The plan to take over BEKS is related to the plan of BEKS entering Bank Business Group of BJTM as stated in Financial Service Regulation (OJK) No.12/POJK.03/2020 regarding Conventional Bank Consolidation.

The highest price of BEKS was recorded in September 2024, reaching IDR 27 per share. At the closing bell last Friday (4/10), the price level was at IDR 22 per share.

As of September 2024, BEKS reported total shares of 51.87 billion, 66.11% of which belong to controllers, while another 33.89% belong to non-controllers. Total shareholders reach 52,591, with the ultimate beneficial owner of the shares being Banten Regional Government. (LK/ZH)