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Calling final bids

Calling final bids

(Indonesia) - Final bids for a majority stake in Indonesia's largest retail bank, Bank Central Asia (BCA), are due in now for up to 51 percent of the Bank. The winning bid is expected to be announced later this month at a value of up to US$450 million, coming from amongst likely suspects including Standard Chartered and local Bank Mega with speculation that ANZ and Deutsche may also be throwing their hats in the ring.

BCA is 60.3 percent controlled by Indonesia's bank restructuring agency (IBRA), which acquired the Bank from the Salim family during the Asian financial crisis of the late 1990s.

All bids are being screened by the central bank, which will be working with international banking institutions to confirm the sourcing of funds being used in order to ensure a Salim related bid is screened.

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