Mapfre America S.A. agreed to acquire 31% stake in PT Asuransi Bina Dana Arta Tbk (JKSE:ABDA) for €92.3 million on October 4, 2016. The closing of the transaction is subject to obtaining of the corresponding administrative authorizations. According to the Indonesian law, once the acquisition is completed, Mapfre America will have to launch a tender offer for the acquisition of the rest of the shares of Asuransi Bina Dana Arta. As of October 4, 2016 Mapfre Internacional SA will acquire a total number of 192 million shares. Mapfre America S.A. completed the acquisition of 31% stake in PT Asuransi Bina Dana Arta Tbk (JKSE:ABDA) for €90.3 million on June 13, 2017. PT Asuransi Bina Dana Arta Tbk will make a tender offer for remaining shares. The transaction has received authorizations.