Bank of China short-listed for stake in Indonesian lender
12 March 2008
Bank of China is one of three bidders being considered by Singapore's Temasek Holdings for the sale of its stake in Indonesia's sixth-largest bank, the Wall Street Journal reported. The other two bidders are unknown. The sale of PT Bank Internasional Indonesia stake could bring in more than US$800 million to Temasek. The sale could also result in a tender offer for the entire bank, whose shares are publicly traded, potentially raising the total price paid by the winning bidder to above US$2 billion. Temasek holds the stake in Bank Internasional Indonesia through its 75% ownership in a holding company, Sorak Financial Holding, which holds a 55.85% stake in the Indonesian bank. South Korea's Kookmin Bank owns the remaining 25% stake in Sorak Financial.
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