When financial markets swoon, private equity pros are known for checking the debt side of the equation first as that determines their cost of leverage for deals. Because the full effect of Covid-19, the disease caused by a novel coronavirus, remains unknown, the outlook for lending and M&A is far from clear in the wake of....
JAKARTA. Kopi Kenangan, one of the largest coffee shop chains in Indonesia, has just obtained US$ 109 million from a Series B funding round led by Sequoia Capital. In an official statement received at idnfinancials.com, Kopi Kenangan will use the funds to strengthen its operations in Indonesia. In addition, the company will also allocate funds....
JAKARTA. PT Bank Central Asia Tbk (BBCA), plans to acquire PT Rabobank International Indonesia and merge it with its subsidiary. BBCA estimates that the acquisition may cost Rp 500 billion. However, the final figure will be decided based on Rabobank’s equity value at the time of the acquisition, plus a fixed premium of US$ 20.5....
JAKARTA (June 8): PT Indofood CBP Sukses Makmur, owned by Indonesian billionaire Anthoni Salim, plans to acquire a producer of instant noodles in Africa and the Middle East for US$3 billion (RM12.8 billion) to expand in fast-growing markets for consumer products. Indofood CBP, part of conglomerate Indofood Sukses Makmur, will acquire 100% of Pinehill Co from....
President Joko “Jokowi” Widodo officially inaugurated Yogyakarta International Airport (YIA) in Kulon Progo regency on Friday, several months after its full operation began in March. Situated around 45 kilometers from the city of Yogyakarta, the new airport has replaced the older Adisutjipto International Airport as the main flight hub in the province of Yogyakarta. The....
PT Hanlim Power Corporation, the local arm of a South Korean company, plans to build a 4,800 megawatt (MW) gas-fired power plant (PLTGU) in Batubara regency, North Sumatra, which is touted to be the largest in the province. The company signed a deal with North Sumatra Governor Edy Rahmayadi on Wednesday to expedite the issuance....
Jakarta. Bank Central Asia, or BCA, Indonesia’s most valuable lender, has closed the deal on the acquisition of Bank Interim Indonesia, formerly Bank Rabobank International Indonesia for Rp 644 billion, or $44 million from a Dutch lender Coöperatieve Rabobank in a move that would pave way for the local lender expansion in the Islamic banking business. Vera Eve....
PT Garudafood Putra Putri Jaya Tbk (GOOD) completed the purchase of 825 million shares belonging to PT Mulia Boga Raya Tbk (CHEESE) on Wednesday (14/10). This amount is equivalent to 55% of all shares that have been issued by the Prochiz cheese producer. Based on the disclosure of information about Garudafood on the Indonesia Stock....
The sale of 6,050 telecommunication towers by Singtel’s Indonesian joint venture company for 10.3 trillion rupiah (S$954 million) will likely support the Singapore telco’s dividends, said DBS Group Research. Jakarta-based Telekomunikasi Selular (Telkomsel), in which Singtel has a 35 per cent stake, is selling the towers to Dayamitra Telekomunikasi (Mitratel), Singtel said last Friday. In....
Religious Affairs Minister Yaqut Cholil Qoumas has lauded the launch of the Indonesia Sharia Bank (BSI), saying he expects the bank would spur the growth of the Islamic banking industry in Indonesia. “Hopefully, we can achieve the Indonesia Sharia Bank that is united to bring benefits and to become a blessing for a united Indonesia,”....