JAKARTA (Yosefardi) – State pharmaceutical company PT Kimia Farma Tbk (KAEF) targets to conclude the acquisition of life insurer PT Asuransi Jiwa InHealth Indonesia by end of this month.
The company has yet disclosed the value of InHealth. KAEF will issue bonds worth Rp600 billion next year, to help funding the acquisition of InHelath.
Media earlier reported PT Bank Mandiri Tbk (BMRI) will acquire 50% shares of InHealth, while the rest will be acquired by state insurer PT Asuransi Jasa Indonesia (Jasindo) and Kimia Farma.
InHealth, subsidiary of PT Askes, booked net profit of Rp93 billion in first nine months of this year. Its assets totaled Rp1.6 trillion. Inhealth has paid-up capital of Rp1 trillion and equity of Rp1.57 trillion.