Multifinance Powerhouse in The Making: MUFG Acquires Mandala Finance

By Editorial Team 14/03/2024
Acquisition
Summary

PT Adira Dinamika Multi Finance Tbk, also known as Adira Finance, and its parent company Mitsubishi UFJ Financial Group (MUFG) have officially become the controlling shareholders of PT Mandala Multifinance Tbk, replacing the official Yamaha motorcycle dealer PT Jayamandiri Gemasejati. Together, they now hold a total of 80.6 percent of Mandala Multifinance shares.

Adira Finance's Chief Financial Officer, Sylvanus Gani Mendrofa, stated that the companies had transferred Rp 873.7 billion on Mar. 13 for the purchase of a 10 percent stake in Mandala Finance. Meanwhile, MUFG acquired a 70.6 percent stake. "The payment transactions have been completed, which means both MUFG and Adira have officially become the controlling shareholders of Mandala Finance," Gani told Bisnis on Wednesday.

Referring to trading data, a crossing transaction of Rp 7.04 trillion in Mandala Multifinance shares occurred on Wednesday, Mar. 13. The traded volume reached 21.36 million lots or 2.1 billion shares, with an average transaction price of Rp 3,297 per share. This represents a premium price for MFIN, considering that the share price ranges from Rp 3,100 to Rp 3,220 in the regular market.

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