BRI Sets Eyes on Bank Mutiara
24 April 2014 18:36 WIB
TEMPO.CO, Jakarta - Bank Rakyat Indonesia (BRI) director Sofyan Basir, said that his bank is interested in buying Bank Mutiara from the government, because the government's desperation to recoup its bailout costs would mean a low price.
The sale, being managed by the Deposit Insurance Corporation (DRC), could see the bank for US$500 million, US$250 million lower compared to the initial price in 2011.
Sofyan said his company would not want to waste this opportunity. "We're interested. We'll buy it if [the bank] is sold at low pirce," he stated.
Before making the commitment, however, Sofyan said that BRI would spend at least two months to carry out due diligence process.
"If all is finished and there are no legal problems, then we'll buy it," he said.
An official from the DRC told the Wall Street Journal that there were 18 foreign and local investors interested in purchasing the bank.
MAYA NAWANGWULAN
