Bank Mutiara Divestment Process Closes, No Investors Selected
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Kamis, 23 Mei 2013 14:22 WIB
TEMPO.CO, Jakarta - Indonesia's deposit insurance agency, Lembaga Penjamin Simpanan (LPS), said it has yet to find qualified investors to buy Mutiara Bank. As a result, LPS ended the bank's divestment process again.
"The divestment process was ended as there were no candidates that meet the requirements, including the audited financial statements or proof of financial ability," LPS Finance Director, Mirza Mochtar, told Tempo, Wednesday, May 22.
Investors' registration process ends on May 15, 2013. A total of seven investors are said to have submitted letters of intent, but Mirza declined to name them. The applicants failed to pass the pre-qualification assessment by LPS, thus the divestment process was declared finished.
Mirza said the divestment process will be reopened "as soon as possible," but he did not say exactly when.
LPS will still be offering Mutiara's shares for a minimum of Rp6.7 trillion. If the shares are not sold by year-end, LPS will reopen the bid next year with the highest bidding price.
MARTHA THERTINA