South Korea's APRO Financial Co. Ltd. agreed to acquire a 77.38% stake in PT Bank Dinar Indonesia Tbk from the bank's shareholders.

Under the proposed deal, APRO Financial will pay 396.89 Indonesian rupiah per Bank Dinar Indonesia share, according to a Nov. 16 statement.

The deal is subject to approval of Indonesia's Financial Services Authority.

As of Nov. 16, US$1 was equivalent to 13,515 Indonesian rupiah.