DBS seek 38,82% ANZ ownership in PNBN.

October 13 6.05 am

Editor : arnab rajaan

DBS Group Holdings Ltd seek to acquire PT Bank Pan Indonesia, the Indonesian lender in which ANZ Ltd holds a stake, according to people familiar with the matter.
After bought ANZ share, DBS plan to acquire 46,04% share own by Mu'min Ali Gunawan Family.

Previously, DBS Bank Ltd (DBS) has successfully completed the acquisition of ANZ’s wealth management and retail banking business in five markets in Singapore, Hong Kong, Mainland China, Taiwan and Indonesia. Based on this previous experience, it should be easier for DBS Bank Ltd. to do similar acquisition of PT Bank Pan Indonesia.

Australia & New Zealand (ANZ) Banking Group Ltd. has rekindled a long-running effort to sell stake in family controlled PT Bank Pan Indonesia. Recently they have appointed Morgan Stanley to help with due diligence.

ANZ plans to start gauging interest again from potential private equity and strategic buyers. The 38,8% stake is valued IDR 9.4 T. Representatives for DBS & PNBN declined to comment on this matter.