PT BANK PEMBANGUNAN DAERAH JAWA BARAT DAN BANTEN TBK PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk (JKSE:BJBR) (BJB) plans to acquire a finance company to boost its business in Indonesia. BJB is targeting a finance company with assets amounting to IDR 5 trillion with BJB becoming a majority shareholder in the target company. “We want to own more than 50% of the shares, so that the company can be consolidated,” Bien Subiantoro, Director of BJB, said.
Bien did not disclose the profile of the target company. He did say, though, that the finance company was a local firm engaged in automotive financing and that it was the best out of three companies considered for acquisition. Bien said the conclusion of the acquisition would be made in 2014.
“If the acquisition takes place this year, we would have suffered a reduction of the much-needed capital,” Bien said.
