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Jakarta - President Director of Bank UOB Indonesia Satawidinata Iwan said that his company plans a merger with UOB Buana has been formally submitted by the controlling shareholder, United Overseas Bank Limited (UOB), the Bank Indonesia (BI).
Iwan, in a press release, Sunday, said the merger plan in order to meet the provisions "Single Presence Policy '.

The merger plan also supports the long-term strategy to build a UOB is a leading bank in the Asia-Pacific region.

With the implementation of the merger, the UOB Indonesia will be part of UOB Buana and a new synergy will be created to support the growth of the bank after the merger.

After the merger is completed, it will be increasingly UOB Buana mengkokohkan position as one of the largest banks in the banking map of Indonesia.

This merger has been done because UOB UOB Indonesia owns 99 percent, while in UOB Buana is also controlled by 99 percent through UOB International Investment Private Limited (UOBII).

In previous news, UOB Group has appointed PT Pricewaterhouse & Coopers FAS as independent assessors reasonable price UOB and UOB Buana Indonesia.

After the merger of UOB Buana shareholders will be owned by UOBII of 68.94 per cent, UOB 30.056 percent, Sukanta Tanudjaja PSM 1 percent and 0.02 percent.|antaranews.com|tenderoffer.biz|

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