JAKARTA: Ten groups of foreign and local investors – including Malayan Banking Bhd
(Maybank) and the Bumiputra-Commerce Bank consortium – have applied to bid for a majority stake in Indonesia's seventh largest bank, PT Bank Permata Tbk, a sale that could raise at least US$170mil for the cash-strapped government.
The government, which owns 97% of Permata, is selling a 51% stake as the first tranche of a disposal that will total 71%.
