Banking News

Standard now likely to win BCA

Standard now likely to win BCA

(Indonesia) - Standard Chartered Bank is favourite to win control of Indonesia's largest retail bank, Bank of Central Asia (BCA), for an estimated US$400m. Final bids for 30 percent of the recapitalised bank along with an option to acquire an additional 21 percent in 12 months were delivered last week. Standard Chartered's bid price came in highest.

Indonesian Government sources have confirmed the formal results will be known later this month.

Standard has partnered its consortium with Berca Indonesia and the investment arm of the Singapore government, together with a Standard shareholder, Prudential.

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