December 12, 2019 / 10:25 AM / 4 months ago

Bangkok Bank to buy Indonesian lender for $2.7 billion

BANGKOK, Dec 12 (Reuters) - Bangkok Bank Pcl, Thailand’s third-largest lender by assets, on Thursday said it had agreed to buy an 89.1% stake in Indonesia’s PT Bank Permata for about $2.7 billion.

The Thai bank will buy the stake in the mid-sized Indonesian lender from Standard Chartered and PT Astra International, it said in a statement, adding that the deal is expected to close in 2020.

Reporting by Chayut Setboonsarng Editing by David Goodman

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