Oversea-Chinese Banking Corp (OCBC) and CIMB Group Holdings are are vying for a controlling stake in Bank Pan Indonesia (Panin Bank) now held bhy ANZ and the Gunawan family, reported Reuters, citing three sources.
The Gunawan family, which founded the Jakarta-listed bank in 1971, holds a stake of 46.52% while ANZ holds 39.22%, with a combined value of some US$2.4 billion.
Non-binding bids for the stake are due to be put forward this month.
Maybank, according to Reuters, is also mulling a bid. Other interested buyers include Mitsubishi UFJ Financial Group and Sumitomo Mitsui Banking Corp.
Panin Bank did not respond to Reuters' requests for comment, while OCBC, CIMB, the two Japanese banks and Maybank declined to comment.
