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Bangkok Bank Said to Near Deal to Take Over StanChart’s Permata

  • Nearly 90% stake in Permata is valued at about $2.3 billion
  • An announcement on the deal could come as soon as Thursday
Updated on

Bangkok Bank Pcl. is nearing a deal to buy control of Standard Chartered Plc’s Indonesian bank, according to people familiar with the matter.

An announcement could come as soon as Thursday, said one of the people, who asked not to be identified as the deliberations are private. The Thai lender was competing with Sumitomo Mitsui Financial Group Inc. in the final race for almost 90% of PT Bank Permata, a stake with a market value of about $2.3 billion, Bloomberg News reported earlier.