PT Reliance Capital Management entered into a conditional shares purchase agreement to acquire 68.55% stake in PT Wahana Ottomitra Multiartha Tbk (JKSE:WOMF) from PT Bank Maybank Indonesia Tbk (JKSE:BNII) for approximately IDR 670 billion on January 11, 2017. As reported, 68.55% stake in PT Wahana Ottomitra Multiartha Tbk will be acquired for a total cash consideration of IDR 673.77 billion plus the difference between the book value of Wahana Ottomitra Multiartha as set out in its audited accounts for the financial year ended December 31, 2016 and the financial year ended December 31, 2015 in proportion to Maybank Indonesia's 68.55% equity interest in Wahana Ottomitra Multiartha. As per the terms of agreement PT Wahana Ottomitra Multiartha will continue to be significant business partner of PT Bank Maybank Indonesia Tbk. The transaction is subject to certain conditions and is expected to close by first quarter of 2017. The disposal will not have any effect on the issued and paid-up share capital and shareholding of the substantial shareholders of Maybank, and it is not expected to have any material effect on the earnings per share, net assets per share and gearing of the Maybank group for the financial year ending December 31, 2017.

PT Reliance Capital Management cancelled the acquisition of 68.55% stake in PT Wahana Ottomitra Multiartha Tbk (JKSE:WOMF) from PT Bank Maybank Indonesia Tbk (JKSE:BNII) on May 3, 2017. The transaction has been terminated as certain conditions precedent to the shares purchase agreement which were scheduled to be satisfied by April 30, 2017 have not been fulfilled.