Deals
ANZ Bank Weighs Reviving Indonesia’s Panin Bank Stake Sale
- Australian lender is in early talks with interested parties
- ANZ’s 38.8% stake is worth $1 billion based on current prices
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Australia and New Zealand Banking Group Ltd. is weighing reviving a stake sale in PT Bank Pan Indonesia, according to people with knowledge of the matter.
ANZ has started preliminary talks with interested parties including other banks and tycoons in Indonesia, said the people, who asked not to be identified as the process is private. Shares of Panin Bank have more than doubled so far this year, giving the lender a valuation of about $2.6 billion. ANZ’s 38.8% stake in the Indonesian bank is worth about $1 billion based on Tuesday’s closing price.