PT Batavia Prosperindo Internasional Tbk (JKSE:BPII) signed an agreement to acquire an additional unknown stake in PT Malacca Trust Wuwungan Insurance from PT Batavia Prosperindo Finance Tbk (JKSE:BPFI) and PT Batavia Prima Investama for IDR 72.4 billion on March 23, 2017. PT Batavia Prosperindo Finance Tbk will sell 241.9 million shares for IDR 20.8 billion and PT Batavia Prima Investama will sell 599.7 million shares for IDR 51.6 billion. PT Batavia Prosperindo Internasional Tbk will be the controlling shareholder in PT Malacca Trust Wuwungan Insurance as a result of the transaction.

The transaction is subject to approval from Indonesia Financial Services Authority (OJK).