Hanwha Life Insurance has completed the acquisition of a 40% stake in PT Bank Nationalnobu Tbk. (NOBU), previously held by Indonesian conglomerate James Riady through the Lippo Group.

The announcement was made on Monday, June 30, 2025, as reported by South Korean media outlets The Korea Times and The Korea Herald.

With the deal completed, Hanwha Life becomes the principal shareholder of Bank Nobu and obtains management rights.

Kim Dong-wook, Head of the Global Strategy Office at Hanwha Life Insurance, stated, “We have made history by entering the banking industry for the first time. We will continue to refine our image as a comprehensive global financial group based on digital financial technology and a global network”.

Premium Transaction Reaches Rp3.79 Trillion in Negotiated Market

On Thursday, June 26, 2025, a significant transaction occurred involving Bank Nobu shares in the negotiated market.

According to data from the Indonesia Stock Exchange (BEI), 3.42 billion shares were exchanged at Rp1,108 per share, amounting to Rp3.79 trillion.

The crossing price was 38.5% higher than NOBU’s closing price of Rp800 on the regular market.

The transaction took place ahead of Hanwha Life’s announcement of completing the acquisition.

Acquisition to Support Digital Financial Services in Indonesia

Hanwha Life plans to expand its digital financial services through strategic collaboration with Bank Nobu.

The company aims to enhance retail financial innovation, leveraging Indonesia’s large and youthful population.

“We will expand our digital financial services capacity through collaboration with the Bank Nobu network, driving innovation in retail financial business,” Kim Dong-wook said.

Stakeholders and Share Divestments Detailed

Hanwha Life completed the purchase of 2,991,377,559 shares, each with a nominal value of Rp100, for a total nominal value of Rp299.13 billion.

The acquisition was carried out through direct purchases from existing shareholders under a stock purchase agreement signed on May 3, 2024.

The deal was formally announced by Hanwha Life at the end of January 2025.

Key shareholder changes include:

• PT Putera Mulia Indonesia: reduced its holding from 23.97% to 4.50% after selling 19.46% or 336,745,124 shares.
• PT Prima Cakrawala Sentosa: sold 413,175,000 shares from its 10.66% stake, reducing ownership to 5.14%.
• PT Star Pacific Tbk.: divested 5.14% or 384,549,100 shares, remaining with 8.31%.
• PT Multipolar Tbk.: sold nearly all shares, leaving only 144,390 from a total of 16,360,390 shares.
• PT Inti Anugerah Pratama: sold its entire holding of 600,071,121 shares, or 8.02%.
• PT Ciptadana Capital: sold its 86,656,700 shares, equivalent to 1.16%.
• PT Lenox Pasifik Investama Tbk: released its 35,186,800 shares, or 0.47%.

As of this report, Bisnis.com has contacted both Bank Nobu and the Financial Services Authority (OJK) for confirmation regarding the acquisition, but neither party has responded.

PHOTO: FREEPIK

This article was created with AI assistance.