Permata Bank will hold An extraordinary general meeting (EGM) on September 25,2018. There is important agenda to change Board of Directors. We just heard on the other agenda is Approval 44.56% stake in Permata Bank ( BNLI.IJ) held by Standard Chartered Bank will sell it.

One of candidates are TPG. After sold 71% Bank Tabungan Pensiunan Nasional (BTPN.IJ) to Sumitomo Group, TPG currently wants to compete to buy Permata Bank (BNLI.IJ)

TPG with local partner by Patric walujo (Northstar) .Patric is the son-in-law of TP Rachmat ( Triputra group)one of the founders of astra. This step can be smooth, cause Astra & Stanchart own 44.56% ,respectively, according Private Equity sources who know this material transaction.

TPG Nusantara Sarl (TPG) is benefiting from Sumitomo. When bought 71% of BTPN’s shares in 2008, TPG only issued 195 million US dollars or about Rp 1.85 trillion at the exchange rate at the time. When sold, TPG gained Rp 16 trillion from SMBC and Rp 6.1 trillion from SGCM.

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