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Singapore's UOB seeks to delist its Indonesian unit

Tue Jun 17, 2008 9:03pm EDT

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SINGAPORE, June 18 (Reuters) - Singapore's United Overseas Bank (UOBH.SI) said on Wednesday it has proposed to delist its 61.1-percent owned Indonesian lender UOB Buana and plans to buy shares it currently does not own.

"If approved, UOBII will undertake a delisting tender offer for the remaining shares in UOB Buana not owned by it, in accordance with the prevailing rules, regulations and policy of Bapepam-LK and the Indonesia Stock Exchange," Singapore's second biggest lender by assets said in a statement. (Reporting by Saeed Azhar; Editing by Daryl Loo)



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