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Reliance Capital buying 68.55% WOM Finance shares from Maybank Indonesia

JAKARTA ( – PT Bank Maybank Indonesia, a subsidiary of Malaysia’s Maybank group, said it has signed conditional shares purchase agreement (CSPA) to sell its 68.55% shares in PT Wahana Ottomitra Multiartha Tbk, also known as WOM Finance, to PT Reliance Capital Management (RCM) for undisclosed value.

WOM Finance said the CSPA has been signed on Wednesday (Jan. 11).

“The signing of the CSPA aims to sell and transfer all of the company’s (WOM Finance) shares that are owned by Maybank Indonesia to RCM,” WOM Finance said in a statement.

The total shares to be transferred amounted to 2,386,646,729 units or equal to 68.55% shares of WOM Finance.

“The transfer of the shares will lead to a change in the controlling shareholder of the company; from Maybank Indonesia to RCM,” it said.

WOM Finance said Maybank Indonesia and RCM are not affiliate companies.

WOM Finance is one of largest financing companies in Indonesia with assets of over Rp 3.5 trillion.

PT Reliance Capital Management, an integrated financial services company, provides financial service products in Indonesia. It offers equities, underwriting, fixed income, asset management, and general and health insurance products.

RCM was found by businessman Anton Budidjaja, who is now president director and Chief Executive Officer. (*)

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