5th Sep 2006 16:27
Standard Chartered PLC05 September 2006 STANDARD CHARTERED and PT ASTRA INTERNATIONAL Tbk ACQUIRE AN ADDITIONAL 25.90% OF PT BANK PERMATA Tbk FOR IMMEDIATE RELEASE Standard Chartered PLC announces that the consortium of Standard Chartered Bank("Standard Chartered") and PT Astra International Tbk ("Astra") (the "Consortium") has agreed to acquire from the Indonesian Government's state-owned asset management company, PT Perusahaan Pengelola Aset, a further interest of 25.90 per cent in PT Bank Permata Tbk ("Bank Permata"). The Consortium will pay a cash consideration of Indonesian Rupiah 1.75 trillion(approximately US$193 million at the current exchange rate). Standard Charteredwill pay a cash consideration of Indonesian Rupiah 877 billion (approximatelyUS$96 million at the current exchange rate) for its 50 per cent share of theadditional 25.90 per cent of Bank Permata being purchased. The acquisition will increase the interest of the Consortium in Bank Permatafrom 63.11 per cent to 89.01 per cent with each of Standard Chartered and Astraholding 44.50 per cent of Bank Permata. Bank Permata is one of the largest banks in Indonesia by branches and assets. Ithas 310 branches, 1 million customers and assets of US$3.9 billion. StandardChartered remains committed to developing and growing its business in thishighly attractive market. For further information, contact: Stephen Atkinson, Head of Investor RelationsTel: +44 20 7280 [email protected] Ruth Naderer, Head of Investor Relations, Asia PacificTel : +852 2820 [email protected] Matthew Chan, Manager, Media RelationsTel: +44 20 7280 [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Standard Chartered