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Bank of China short-listed for stake in Indonesian lender

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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