JAKARTA: Malayan Banking Bhd
(Maybank), Malaysia's biggest lender by assets, has appointed UBS to handle the sale of a stake in its banking unit, PT Bank Internasional Indonesia (BII), its chairman said on Monday.
Maybank is required by the Indonesian capital market regulator, Bapepam-LK, to sell down its stake in BII to at least 80 percent from 97 percent currently. It has so far managed to sell 0.5 percent of its stake in the open market.
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