BRI opens door to mergers and acquisitions at subsidiaries
The move is tied to Danantara's plan to cut BUMN entities from 1,077 to 200-300 companies.
PT Bank Rakyat Indonesia (Persero) Tbk is opening the door to consolidation, mergers and even acquisitions at the subsidiary level as part of a BUMN streamlining program run by Badan Pengelola Investasi Danantara. BRI Deputy President Director Viviana Dyah Ayu Retno said the corporate actions could be taken to streamline the state-owned company portfolio. She said BRI supports efforts to optimize BUMN so they are more efficient, competitive and able to create long-term economic value. The company has not detailed which entities would be affected and said any decision will be based on a comprehensive review and comply with regulatory requirements. The government aims to reduce the number of BUMN entities, including subsidiaries, from around 1.077 to 200-300 companies.