JAKARTA. Philip Morris International Inc, the parent company of PT HM Sampoerna Tbk (HMSP), has confirmed that it is exploring a merger with Altria Group Inc, which would create a tobacco giant with a US$ 200 billion market cap. If materialised, the merger would be the largest deal in the consumer business and the fourth-largest in....
Bank Danamon Indonesia (Bank Danamon) and Bank Nusantara Parahyangan (Bank BNP), a member of Mitsubishi UFJ Financial Group (MUFG) have completed their operational merger. Customers of Bank BNP are now able to enjoy Bank Danamon’s vast array of products and services, its national network of 464 branches and 1,400 ATMs along with access to more....
SoftBank-backed ride hailer Grab is in talks to merge OVO, an Indonesian digital payments firm in which it owns shares, with an Ant Financial-backed local peer to build heft and power ahead of archrival Gojek, people familiar with the matter said. A deal would see Singapore-based Grab buy a majority interest in Ant-backed DANA from....
JAKARTA. PT Kalbe Farma Tbk (KLBF), a pharmaceutical company, is exploring the possibility to establish a joint venture (JV) with Hale International. President Director of KLBF, Vidjongtius, announced that currently, Kalbe Farma is open to opportunities for cooperation with companies engaged in the production of health drinks. “The cooperation is like a joint venture, but....
Axiata Group Bhd. is pursuing mergers as a key strategy despite an abrupt end to its plan to form an Asian mobile giant with Telenor ASA, its top executive said. Malaysia’s largest wireless carrier, which provides telecommunication services to more than 300 million people from India to Cambodia, could see mergers happening for its Indonesian and....
JAKARTA. The merger of PT XL Axiata Tbk (EXCL) and Hutchison 3 is believed to positively affect the Indonesian telecommunication industry. As reported by Reuters on Tuesday (1/10), EXCL has received a serious and credible acquisition offer from Hong Kong-based telecommunication company CK Hutchison Holdings Ltd. If both parties agree on the offer, a deal will be....
Asian deals dominated global retail acquisitions in September according to a database compiled by GlobalData. Retail industry deals for the month were worth more than US$ 7.52 billion, representing an increase of 94.9 percent over August and 38.6 percent above the 12-month average of $5.43 billion. In terms of number of deals, the sector saw....
JAKARTA — Two of Indonesia’s largest tech companies, Gojek and Tokopedia, are in discussions over a merger, with a view to an initial public offering, as they gear up to confront the region’s biggest tech company, Singapore’s Sea, Nikkei Asia has learned. The talks come as superapp provider Gojek’s merger negotiations with Singapore-based rival Grab hit....