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DBS Reportedly in Lead to Acquire Controlling Stake in Indonesia’s Panin Bank - Fintech Singapore

Summary by Fintech Singapore

DBS Group has emerged as the leading contender to acquire a controlling stake in Indonesia’s Panin Bank, according to people familiar with the matter, as the Singaporean bank progresses through the second round of bidding. The potential deal involves a sale of roughly 86% of Panin Bank, the country’s 12th largest lender. The stake is held by Australia’s ANZ Group and the founding Gunawan family and was valued at around US$1.8 billion at Tuesday’…

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Retail Banker International

DBS frontrunner in race to acquire stake in Indonesia’s Panin Bank

Singaporean lender DBS Group is reportedly the frontrunner in the bid to acquire a controlling stake in Indonesia’s Panin Bank. DBS is in competition with Malaysia’s CIMB Group in the second round of the bidding process, reported Reuters, citing the three sources familiar with the matter. About 86% of Panin Bank is up for grabs. The sale includes stakes owned by Australia’s ANZ and the founding Gunawan family. Their combined holding is valued at…

6 days ago

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