Bank Jago Acquires BFI Finance. Who Will Benefit the Most?

By Editorial Team 16/04/2021
Bank Jago
Summary

PT Bank Jago Tbk (ARTO) is expanding towards domination in the digital financial market. After cooperating with Gojek as an investor, Bank Jago is reportedly eyeing to acquire a multi-finance company, PT BFI Finance Tbk (BFIN).

"Boy Thohir and Patrick Walujo will divest BFIN shares to Bank Jago," a source familiar to this matter told Katadata.co.id, Thursday (4/15). Referring to IDX data as of April 2021, Trinuigraha Capital holds a majority stake of 42.81 percent in BFI Finance. The other shareholders are NT Asian Discovery Fund at 8.25 percent, BFI Finance Indonesia at 6.28 percent, and the public by 42.66 percent.

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