Standard Chartered submits highest bid for Indonesia's Bank Permata
AFP, September, 2004
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JAKARTA (AFP) — A consortium led by Britain's Standard Chartered Bank has submitted the highest initial bid to aquire a 51 percent stake in Indonesia's Bank Permata.
Standard Chartered with Astra International outbid four other shortlisted contenders with an offer equivalent to more than twice Permata's book value, the Bisnis Indonesia daily reported, citing government sources.
The other shortlisted bidders are Singapore's United Overseas Bank, Commerce Asset Holding and Maybank of Malaysia, and a consortium of Bank Panin and ANZ Bank.
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Indonesian officials say the preferred bidder will be announced ...
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