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BRI Aiming to Acquire Venture Company This Year
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Friday, 04 August, 2017 | 07:44 WIB
BRI Aiming to Acquire Venture Company This Year

TEMPO.CO, Jakarta - State-owned lender Bank Rakyat Indonesia (BRI) is aiming to acquire venture and securities companies this year. BRI CEO Suprajarto expects that acquisition of a venture company can be completed in September, followed by a securities company in December.

"I’m hopeful that they can be concluded this year provided that the SOE Ministry gives its support. We still need clearance from the SOE Ministry," he said yesterday, August 3, at the BRI building in Jakarta.

Suprajarto said that the company plans to buy the entire stake in the unnamed company. However, he said that BRI will not immediately make heavy investment once the acquisition materializes. BRI will first examine the state of the company’s business.

BRI Finance and Treasury Director Haru Koesmahargyo said that the company has prepared around Rp500-700 billion to acquire the two companies. The funds are part of this year’s capital spending budget of over Rp2 trillion.

Aside from acquisition, BRI also plans to invest in three of its subsidiaries in a bid to expand its business. The subsidiaries are Bank Agro, Bank Syariah and BRI Life.

BRI will inject Rp2 trillion into the companies. Haru said that BRI Life will become a priority with Rp800 billion-Rp1 trillion investment.

VINDRY FLORENTIN



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