Bangkok Bank Public Company Limited (SET:BBL) made an offer to acquire 10.88% stake in PT Bank Permata Tbk (IDX : BNLI) from the minority shareholders for IDR 4.6 trillion on December 12, 2019. Under the terms, 26.9 million class A shares and 3.02 billion class B shares for IDR 1498 per share will be acquired. In a related transaction Bangkok Bank Public Company Limited (SET:BBL) agreed to acquire 86.1% stake in PT Bank Permata Tbk (IDX:BNLI) from PT Astra International Tbk (IDX:ASII) and Standard Chartered Bank for IDR 37.4 trillion on December 11, 2019. The transaction is subject to approval from regulators, approval by shareholders of Bangkok Bank and approval by shareholders of PT Bank Permata . The transaction is expected to close in third quarter of 2020. Discover Management Company Limited acted as Independent financial advisor to Bangkok Bank in the transaction.

Bangkok Bank Public Company Limited (SET:BBL) completed the offer to acquire an additional 10.59% stake in PT Bank Permata Tbk (IDX : BNLI) for IDR 4.4 billion from the minority shareholders on October 9, 2020. The mandatory offer was completed by acquiring 2.97 billion representing 10.59% stake.