<article><a style="color: #000080;" href="http://www.dealstreetasia.com/stories/maybank-indonesia-to-raise-174-m-from-bond-and-sukuk-38539/" target="_blank" rel="noopener noreferrer">Maybank Indonesia </a>has scrapped the sale of its stake in Indonesia&#8217;s motorcycle financier PT Wahana Ottomitra Multiartha TBK (WOM Finance).</article>

<a style="color: #000080;" href="http://www.dealstreetasia.com/stories/maybank-indonesia-to-raise-174-m-from-bond-and-sukuk-38539/" target="_blank" rel="noopener noreferrer">Maybank Indonesia </a>has scrapped the sale of its stake in Indonesia&#8217;s motorcycle financier PT Wahana Ottomitra Multiartha TBK (WOM Finance).
The bank was earlier looking to dispose off its 68.55 per cent stake in WOM Finance to PT Reliance Capital Management for $50.24 million (MYR 218.93 million) which now stands cancelled.
&#8220;Maybank wishes to announce that the Proposed Disposal has been terminated as of 3 May 2017, as certain conditions precedent to the CSPA which were scheduled to be satisfied by 30 April 2017 have not been fulfilled,&#8221; Malaysia&#8217;s largest bank by assets told the stock exchange on Thursday.
With the termination of the proposed disposal, Jakarta-listed WOM Finance will continue to be a subsidiary of Maybank Indonesia, it added.
The proposed disposal and its termination are not expected to have any material effect on the earnings per share and net assets per share of the Maybank group for the financial year ending 31 December 2017.
At the time of announcing the disposal earlier this year, Maybank Indonesia had said that the proceeds from disposal will strengthen its capital level in effect aiding in its lending expansion.
Meanwhile, the proposed buyer <a href="http://www.dealstreetasia.com/stories/indonesia-dealbook-reliance-buys-majority-stakes-in-wom-finance-siloam-acquires-two-new-hospitals-astra-to-take-over-cipali-highway-63321/" target="_blank" rel="noopener noreferrer">PT Reliance Capital Management </a>is a provider of financial services in Indonesia. It offers equities, underwriting, fixed income, asset management, and general and health insurance products. The firm was found by businessman Anton Budidjaja.
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Maybank Indonesia has scrapped the sale of its stake in Indonesia's motorcycle financier PT Wahana Ottomitra Multiartha TBK (WOM Finance).

Maybank Indonesia scraps sale of its stake in WOM Finance

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Maybank Indonesia scraps sale of its stake in WOM Finance

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