JAKARTA: State-owned PT Bank Rakyat Indonesia Tbk (BRI), the countrys largest bank by lending, announced a tender offer of 341.99 million shares of PT Bank Agroniaga Tbk at IDR182 or 2.24% higher than market price. Bank Agro was traded in Jakarta Composite Index at IDR178 as of 10.52 a. m. in Jakarta.PT Bahana Securities has been named by BRI to arrange the tender.This tender offer is extended for the remaining shares of Bank Agro owned by eligible public shareholders in accordance with regulation of public shareholder. The tender is following a 88.65% stake acquisition of Bank Agro by BRI from Dana Pensiun Perkebunan (Dapenbun) on March 3 2011 for IDR330.30 billion. Tender offer period is starting from today until May 24, 2011. After the transaction, BRI owned 88.32% or the biggest shareholder of Bank Agro. Dana Pensiun Perkebunan held 7.29% and public shareholder 4.39%.BRI was traded at IDR6,350 or slipped 0.78% as of 11.04 a.m. in Jakarta. (wiw)

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