Yawadwipa targets $750m buyout of Indonesia’s Bank Mutiara
Yawadwipa, the startup Indonesia-focused merchant banking operation that recently unveiled plans for a $1 billion private equity fund, has express an interest in acquiring state-owned PT Bank Mutiara for around $750 million. The price is based on the sum the Indonesian Deposit Insurance Agency used to bail out the bank in 2008 through a temporary capital placement. Under Indonesian law, Mutiara can’t be sold for less than this amount.
In its communication to Mutiara's financial advisors, Yawadwipa said it was willing to partner with a "well-capitalized institution" or on a standalone basis. The approach, though ambitious, fits in...
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