KASIKORN VISION Company Limited entered into a conditional sale and purchase agreement to acquire 57.51% stake in PT Bank Maspion Indonesia Tbk (IDX : BMAS) for $220 million.

Kasikorn Vision Financial Company Pte. Ltd entered into a conditional sale and purchase agreement to acquire 57.51% stake in PT Bank Maspion Indonesia Tbk (IDX : BMAS) for $220 million on May 30, 2022. After completion of the transaction, KBank and KVF will altogether hold not less than 67.50% stake of total shares of PT Bank Maspion.

The transaction is subject to the approvals of regulatory authorities and expected to be finalized by the end of 2022.