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ANZ Said to Be in Talks to Sell Bank Panin Stake to Mizuho

Australia & New Zealand Banking Group Ltd. is in talks to sell its 39 percent stake in PT Bank Pan Indonesia to Mizuho Financial Group Inc., a person with knowledge of the matter said.

The discussions are at an early stage, the person said, asking not to be named as the talks are private. The Melbourne-based bank’s stake in Bank Panin is valued at about $618 million, based on yesterday’s closing price.