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MARKET MOVING: ASKRINDO prepares IDR1.5 trillion to acquire general insurance company

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JAKARTA: PT Asuransi Kredit Indonesia is poised to acquire one general insurance company this year by investing IDR1.5 trillion.

Director of Engineering & Operations Asuransi Kredit Indonesia (Askrindo) Didiet S. Pamungkas said so far the company’s equity is still adequate to run such corporate action.

“Our current equity is IDR3.1 trillion. We can acquire an insurance company using half of the equity,” he said Tuesday (7/10/2012).

Up to now, three general insurance companies have offered their shares to be acquired by Askrindo.

He expects Ministry of SOEs as the company’s shareholder to approve the acquisition plan so that it can be realized this year. (T06/TW)

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