JAKARTA — PT Bank Negara Indonesia (Persero) Tbk. (BBNI), through its subsidiary PT BNI Sekuritas (BNIS), has officially executed a conditional share sale and purchase agreement with PT Danantara Asset Management (PT DAM). This pivotal agreement facilitates the divestment of PT BNI Asset Management (BNI AM), marking a significant strategic move within the Indonesian financial landscape.
The transaction, formally signed on April 1, 2026, encompasses the relinquishment of 39.96 million shares, which represents a substantial 99.9% ownership stake held by BNIS in BNI AM. The total value of this comprehensive divestment reached an impressive IDR 359.64 billion.
According to a disclosure filed with the Indonesia Stock Exchange (BEI), this strategic step is an integral part of a broader initiative to strengthen the State-Owned Enterprise (BUMN) investment ecosystem, channelled specifically through Danantara Asset Management. Management elaborated, stating that “PT DAM, envisioned as an operational holding, aims to cultivate an asset management company that will emerge as a champion with formidable competitiveness through innovative products and services,” as quoted on Sunday, April 5, 2026.
BNI underscored that while this transaction qualifies as an affiliate transaction, involving entities under indirect state control, it does not meet the criteria for a material transaction as defined by regulatory provisions. The company clarified, “‘Affiliate Transactions are not included in the criteria for Material Transactions as regulated in POJK No. 17/2020.’” Nevertheless, BNI affirmed that this corporate action fully adheres to POJK No. 42/2020, which comprehensively addresses affiliate transactions and potential conflicts of interest.
An independent valuation conducted by KJPP Suwendho Rinaldy dan Rekan (SRR) assessed BNI AM’s market value at IDR 354.85 billion. Notably, the final agreed transaction value, set at IDR 359.64 billion, exceeded this valuation, unequivocally reinforcing its fairness. The independent appraiser’s report explicitly stated, “The price determined in the Affiliate Transaction is fair because it is higher than the market value of BNI AM shares.”
Furthermore, the appraiser concluded that this transaction is poised to deliver a significant positive impact on the company’s future financial performance. The analysis projected that “The Affiliate Transaction will be able to improve the company’s financial performance and provide added value for all shareholders,” highlighting the anticipated benefits for stakeholders.
BNI’s management firmly assured that the entire transaction was conducted free of any conflicts of interest. The process meticulously adhered to established procedures and prevailing business practices, ensuring transparency and compliance throughout the significant divestment of BNI Asset Management.