Final Bidders Announced For Stake In Indonesian Bank

March 2008 | M&A News Alert

Temasek is selling its 42% stake in Bank Internasional Indonesia (BII) to comply with a new Indonesian central bank policy that does not allow foreign investors to have a controlling stake in more than one Indonesian bank. The stake has attracted interest from many investors; HSBC, Bank of China and Malaysia's Malayan Banking Bhd have been announced as the final bidders. Temasek must comply with the new policy by 2010. At present it has stakes in BII and Bank Danamon.

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