Anthony Salim's Comeback May Be Coming Apart
Late last year, Anthony Salim created waves by announcing he would restructure what was Indonesia's biggest conglomerate, the $20 billion Salim Group. He would raise $4 billion by selling assets, use the money to clean up his Bank Central Asia (BCA), which was nationalized last May, and then buy back a stake in the bank. Salim was the first to make such a move and looked likely to blaze a trail for dozens of other indebted Indonesian tycoons.
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