Venturing into Indonesia. Affin announced yesterday it had entered into the following agreements: 1) share purchase agreement with PT Kharisma Prima Karya for the acquisition of a 20.8% stake in Bank Ina Perdana’s (Bank Ina) enlarged share base. The actual cash consideration will be determined later, based on a P/NTA multiple of 3.15x of the latest monthend balance sheet (completion balance sheet); 2) subscription agreement of new shares representing 59.2% of Bank Ina’s enlarged share capital. The subscription price will be based on the NTA/share as per the
completion balance sheet; and 3) a call and put option with PT Kharisma for 18% of Bank Ina’s enlarged share capital. The option price shall be based on a P/NTA multiple of 3.15x of Bank Ina’s future NTA/share.
Affin Holdings Berhad : Expanding Into Indonesia - 05/08/2010
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