Competition to acquire Bank Permata has narrowed down to two foreign bidders with Sumitomo Mitsui Financial Group named as the «most serious» buyer.
Several bidders reportedly expressed interest in acquiring the mid-sized Indonesian lender but according to Slamet Edy Purnomo, deputy commissioner of Indonesia's Financial Service Authority (OJK), the race has now concluded to two foreign investors with Sumitomo Mitsui Banking Corporation, an SMFG arm, being the «most serious» buyer.
«Permata is finalising [the bidding process],» Purnomo said. «It now depends on the shareholders to choose.»
Permata has an estimated value of $2.4 billion with Standard Chartered and Astra International each holding a 45 percent stake. In addition to the SMFG and SMBC, other bidders reportedly interested in the deal included OCBC and DBS.
