Hanwha Investment & Securities announced on the 28th that it has signed a contract to acquire Ciptadana Securities and Asset Management in Indonesia.
The signing ceremony took place at the headquarters of Ciptadana Securities located in Jakarta, Indonesia. Hanwha Investment & Securities CEO Han Doo-hee, Ciptadana Capital Commissioner Catherine Gina Hambali, and Lippo Group President Commissioner Felix Ali Chentda, among other officials, attended the event. After the contract signing, the officials visited the Lippo Group headquarters in Karawaci, Jakarta, to discuss collaboration plans between Hanwha Financial Group and Lippo Group.
On the 15th, Hanwha Investment & Securities held a board meeting and announced its intention to acquire Ciptadana Securities and Asset Management, financial companies affiliated with Indonesia's Lippo Group.
Hanwha Investment & Securities CEO Han Doo-hee stated, “Through the acquisition contract of Ciptadana Securities and Asset Management, we have taken the first step into the Indonesian financial market,” adding, “Based on the capabilities Hanwha Investment & Securities possesses, we will grow into Indonesia’s leading digital comprehensive financial company.”
Meanwhile, Hanwha Investment & Securities plans to complete the acquisition as early as this year after obtaining approval from the financial authorities of both countries.
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