DIB to raise its stake in Indonesian lender to 40% | GulfNews.com:
"Dubai Islamic Bank PJSC (DIB) on Saturday said it has received formal approval from the Financial Services Authority, Indonesia (OJK) to hike its stake in PT Bank Panin Syariah Tbk (Bank Panin Syariah) to 40 per cent.
DIB had acquired around 25 per cent shares of Bank Panin Syariah, a listed commercial bank in Indonesia, in May last year. In the first phase of acquisition, DIB bought shares of Bank Panin Syariah from the market.
In the second phase of its acquisition strategy, DIB recently received a formal regulatory approval to obtain ‘Controlling Shareholder Status’ from the Financial Services Authority. DIB is now in a position to initiate and complete phase 2 of its share purchase plan, which seeks to increase its shareholding to 40 per cent."
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