DBS reportedly considers acquiring Bank Permata
JAKARTA - DBS Group Holdings Ltd is reportedly considering to bid for the acquisition of PT Bank Permata Tbk (BNLI).
According to sources familiar with the matter, the Singapore-based financial services firm is working with a consultant on the possible corporate action. If the move was confirmed, DBS would compete against both Singapore’s Oversea-Chinese Banking Corp (OCBC) and Japan’s Sumitomo Mitsui Financial Group Inc, which have expressed interest in acquiring Bank Permata.
Currently Standard Chartered and PT Astra International Tbk (ASII) each own a 45% stake in Bank Permata, which has a market value of approximately US$ 2.4 billion.
So far, DBS has to provide a comment on the matter. (MS)