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Sinar Mas Multiartha acquires 15% stake in Sinar Mitra Sepadan Finance

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Sinar Mas Multiartha acquires 15% stake in Sinar Mitra Sepadan Finance

Indonesia-based PT Sinar Mas Multiartha Tbk acquired a 15% stake in PT Sinar Mitra Sepadan Finance for 96.19 billion rupiah, IDNFinancials reported March 22.

The transaction took place March 20.

Japan's ORIX Corp. remains the majority shareholder of Sinar Mitra Sepadan Finance with an 85% stake.

As of March 21, US$1 was equivalent to 14,137 Indonesian rupiah.