INDONESIA - BANKING - Muamalat : Boubyan to sell part of its stake

blogs.mubashir.info - Boubyan Bank to sell part of its stake: Boubyan Bank has signed a contract to sell part of its ~25% stake in Bank Muamalat Indonesia for KWD9.6mn. The bank expects to gain KWD5.7mn from this sale, which it plans to use to create additional allocations and to strengthen its financial position. (Zawya) (source)

INDONESIA - BANKING - Kuwaiti Boubyan Bank to sell part of Indonesia's Bank Muamalat stake

world.seenews.com - (SeeNews) - Apr 27, 2012 - Kuwaiti Islamic Boubyan Bank (KUW:BOUBYAN) said in a bourse statement yesterday it had signed an agreement to sell part of its stake in Indonesia-based Bank Muamalat for KWD 9.6 million (USD 34.5m/EUR 26.2m). (source)

INDONESIA - BANKING - Danamon Announces Sale of Shares by FFH to DBS (press release)

www.danamon.co.id - press release - PT Bank Danamon Indonesia, Tbk, (‘Danamon’ or the “Company”) has been informed by Fullerton Financial Holdings Pte. Ltd. (“FFH”), that it has entered into a share purchase agreement with DBS Group Holdings (“DBS”) to sell its interest in the whole of the issued share capital of Asia Financial (Indonesia) Pte. Ltd. (“AFI”) to DBS. AFI holds approximately 67.37% of the total issued shares of the Company. The transaction is subject to the approvals, among others, of DBS shareholders and regulators, including Bank Indonesia.

Danamon shareholders should refer to the DBS announcement dated 2 April 2012 that DBS will launch a Mandatory Tender Offer (MTO) to acquire the remaining listed shares from the other Shareholders of Danamon for a cash offer price of IDR 7,000, - per share. (source)

INDONESIA - BANKING - BNI to sell subsidiary at high value

JAKARTA: PT Bank Negara Indonesia Tbk is poised to divest its ownerships in subsidiaries should there are prospective investors willing and able to pay at high and reasonable price.

BNI Finance Director, Yap Tjay Soen admitted that there have been many investors having strong interests in BNI’s subsidiaries, yet, they cannot afford the acquisition values offered by the listed lender.  (source)

ARTICLE - the use of the contract of sale in Islamic finance