"SMBC acquired the stake from TPG Nusantara S.a.r.l (TPGN) on Wednesday," BTPN director Anika Faisal said at the Indonesia Stock Exchange on Thursday.
The share sale reduced the stake of TPG Nusantara in BTPN to 41 percent, but it remains the majority shareholder, Anika said.
It was reported that Sumitomo Mitsui Banking Corporation hopes to increase its stake in the bank to 40 percent in the future.
SMCB said it plans to acquire a 24.26 percent stake in BTPN from the market in addition to the 16.87 percent stake it had acquired from TPGN.
Sumitomo Mitsui Banking plans to buy 1.41 billion more shares of BTPN or 24.26 percent at a price of Rp6,500 per share.
Takeshi Kumibe, the president of Sumitomo Mitsui Banking Corporation, said the company has diversified business in Asia including in Indonesia.
SMCB is interested in expanding business in Indonesia because of the strong economic growth recorded by the country amid the global crisis.
Takeshi Mitsui attributed Indonesia`s economic growth to the country`s big population and growing middle class. (*)
Editor: Heru Purwanto
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