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Acquisition of Bukopin Bank, Kookmin Bank is sued in lawsuit for 1.6 trillion won in Indonesia

▲ KB Kookmin Bank.

[에너지경제신문 송두리 기자] KB Kookmin Bank, which acquired Indonesia’s Bucopin Bank, was sued for damages worth 1.6 trillion won from its former largest shareholder.

On the 25th, Kookmin Bank claimed that “the 2nd largest shareholder of Bukopin Bank (Bosowa Group) was illegal in violation of local laws and regulations in Indonesia, and jointly defended the Indonesian Financial Supervisory Service (OJK) and Kookmin Bank. He announced that he requested compensation for damages. He said, “We have requested compensation for monetary damages (such as the cost of acquiring stocks) and non-monetary damages (time loss and loss of market trust, etc.).

The Bosowa Group filed a complaint in Jakarta’s Central Court, seeking a seizure of property and a preliminary injunction decision before final judgment.

Kookmin Bank invested a total of 400 billion won to acquire 67% of Bukopin Bank in August last year and became the largest shareholder. Earlier, OJK ordered that the Bosowa Group, the existing largest shareholder of Bukopin Bank, to sell all of its stakes within one year, saying that voting rights were restricted in June last year, and was eliminated from the reexamination of controlling shareholders in August of the same year. .

Kookmin Bank announced, “It is difficult to predict the outcome of the lawsuit at this point, but it is unlikely that the outcome of the lawsuit will have a significant impact on the financial position of Kookmin Bank.” In addition, he said, “As we obtained the status of controlling shareholder with the approval of OJK at the time, we will respond legally after receiving the collection in the future.”

Reporter Song Doo-ri [email protected]

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