James Riady-Hary Tanoe in Nobu-Bank MNC Merger: Who Gets The Crown?

By Editorial Team 06/09/2023
Nobu Bank
Summary

The Financial Services Authority (OJK) announced that two banks, PT Bank Nationalnobu Tbk (NOBU) and PT Bank MNC Internasional Tbk (BABP), are in the process of negotiating their share ownership for the merged entity. NOBU belongs to the Lippo Group, while BABP belongs to the MNC Group.

OJK’s Chief Executive for Banking Supervision Dian Ediana Rae said the two banks had passed their evaluation. “This is a critical stage; they are discussing the share ownership and there might be some technical issues,” he said.

Dian added that both parties have not canceled their merger plan. However, they have requested permission to delay their financial report submission because they want to conduct an audit.

Normally, a financial report audit is conducted when a company is about to prepare a corporate action. OJK had previously set the target for the NOBU-BABP merger to be completed by August 2023.

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