www.theindonesiatoday.com - KUALA LUMPUR, Indonesia Today - RHB Bank Berhad and PT Mestika Benua Mas agreed to extend the period to satisfy or waive the conditions precedent of the acquisition of Bank Mestika Dharma to June 30, 2012.
Both parties had earlier agreed to further extend the period to satisfy or waive the conditions precedent of the conditional sale and purchase agreement of Bank Mestika Dharma from December 2011 to February 29, 2012. (source)
As reported earlier, RHB Capital Berhad plans to acquire 80% shares in Bank Mestika Dharma for a total cash consideration of Rp3.118 trillion. RHB also has put and call option for 9% of the issued and paid-up share capital of Bank Mestika Dharma.
For the acquisition purpose, RHB also launched a renounceable rights issue of new ordinary shares of RM1 each in RHB Capital to raise gross proceeds of approximately RM1.3 billion.
RHB had announced the plan to acquire Bank Mestika Dharma in October 2009. Closing of the transaction has been delayed repeatedly because of various issues, including uncertainties surrounding investment policies in Indonesia. (Indonesia Today)
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