ID :
21496
Fri, 09/26/2008 - 21:12
Auther :
Shortlink :
http://m.oananews.org//node/21496
The shortlink copeid
BI NOT TO MEDDLE IN BII'S ACQUISITION
Jakarta, Sept 26 (ANTARA) - Bank Indonesia (the central bank/BI) said on Friday it will not interfere in the acquisition of Bank Internasional Indonesia (BII) by Malaysia's Malayan Banking Berhad (Maybank).
"We have already approved the acquisition. The matter is now in the hands of the two banks. We will not meddle," Bank Indonesia Governor Boediono said.
Earlier reports had it that the acquisition had come to another standstill after Bank Negara Malaysia (the Malaysian central bank/BMN) asked Maybank to renegotiate the acquisition with BII in view of the global financial crisis.
"BMN asked Maybank to reach an agreement (with BII) on a new price that will have no fundamental impact on Maybank's finances. That is why we have asked for more time starting today to settle the acquisition in accordance with the share sale agreement signed on March 26, 2008," deputy head of Maybank's corporate and strategic planning, Hazimi bin Kassim, said.
BMN had also asked Maybank, Malaysia's largest lender by assets, to request additional time to make payments.
This is for the second time BMN took a surprising step after it had earlier refused to issue a permit for the acquisition. The bank eventually issued the permit on September 16, 2008 after giving Maybank the green light to go ahead with the acquisition.
Maybank is acquiring BII for US$4.8 million.
"We have already approved the acquisition. The matter is now in the hands of the two banks. We will not meddle," Bank Indonesia Governor Boediono said.
Earlier reports had it that the acquisition had come to another standstill after Bank Negara Malaysia (the Malaysian central bank/BMN) asked Maybank to renegotiate the acquisition with BII in view of the global financial crisis.
"BMN asked Maybank to reach an agreement (with BII) on a new price that will have no fundamental impact on Maybank's finances. That is why we have asked for more time starting today to settle the acquisition in accordance with the share sale agreement signed on March 26, 2008," deputy head of Maybank's corporate and strategic planning, Hazimi bin Kassim, said.
BMN had also asked Maybank, Malaysia's largest lender by assets, to request additional time to make payments.
This is for the second time BMN took a surprising step after it had earlier refused to issue a permit for the acquisition. The bank eventually issued the permit on September 16, 2008 after giving Maybank the green light to go ahead with the acquisition.
Maybank is acquiring BII for US$4.8 million.
