M&A Deal Summary

Bangkok Bank Acquires PT Bank Permata Tbk

On December 12, 2019, Bangkok Bank acquired financial services company PT Bank Permata Tbk from Standard Chartered and Astra for 2.7B USD

Acquisition Highlights
  • This is Bangkok Bank’s 1st transaction in the Financial Services sector.
  • This is Bangkok Bank’s largest (disclosed) transaction.
  • This is Bangkok Bank’s 1st transaction in Indonesia.

M&A Deal Summary

Date 2019-12-12
Target PT Bank Permata Tbk
Sector Financial Services
Buyer(s) Bangkok Bank
Sellers(s) Standard Chartered
Astra
Deal Type Divestiture
Deal Value 2.7B USD

Target

PT Bank Permata Tbk

Jakarta, Indonesia
website
PT Bank Permata Tbk is a commercial bank, with a sizeable presence across customer segments. With its leading retail deposit franchise and best-in-class digital capabilities, and led by its seasoned management team, Permata is well poised for growth post the recent restructuring. PT Bank Permata Tbk was founded in 1954 and is headquartered in Jakarta, Indonesia.

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Buyer(S) 1

Buyer

Bangkok Bank

Bangkok, Thailand

website


Category Company
Founded 1944
Sector Financial Services
Employees27,142
Revenue 123.9B THB (2020)
DESCRIPTION

Bangkok Bank is a commercial bank that offers businesses through its domestic and international network, from SMEs to large-size corporates, in sectors such as agriculture, automotive, manufacturing, and supply chain. Bangkok Bank was incorporated in 1944 and is based in Bangkok, Thailand.


DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
Country (Indonesia) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 2

SELLER

Standard Chartered

London, United Kingdom

website


Category Company
Founded 1853
Sector Financial Services
Employees81,770
Revenue 14.6B USD (2021)
DESCRIPTION

Standard Chartered is a multinational banking and financial services company. Standard Chartered was founded in 1853 and is based in London, the United Kingdom.


DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
Country (Indonesia) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-03 American Express Bank

Gurgaon, India

American Express Bank Ltd.is the international banking subsidiary of American Express Company. Founded in 1919, it provides services to financial institutions, high net worth individuals and affluent customers through more than 74 locations in 47 countries.

Buy $823M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-03 Partior

Singapore, Singapore

Partior is a blockchain-based technology provider that is enabling the next generation of cross-border payments and value exchange. An independent company that grew from the Project Ubin collaboration backed by the Monetary Authority of Singapore, It aims to make digital clearing and settlement more efficient, reliable, and secure for financial institutions worldwide by harnessing the key features of blockchain and smart contracts programmability, immutability and traceability to address the industry’s longstanding pain points. Partior is based in Singapore.

Buy -
SELLER

Astra

Jakarta, Indonesia

website


Category Company
Founded 1957
Sector Diversified
Employees122,182
Revenue 175,046.0B IDR (2020)
DESCRIPTION

Astra develops its business by implementing business models based on synergy and diversification in seven business segments, consisting of Automotive, Financial Services, Heavy Equipment, Mining, Construction & Energy, Agribusiness, Infrastructure and Logistics, Information Technology and Property. Astra was founded in 1957 and is based in North Jakarta, Indonesia.


DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
Country (Indonesia) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1