Taiwan’s Fubon expresses interest in Indonesian lender
(18 September 2015 – Indonesia) Taiwan's Fubon Financial is weighing up a bid to purchase a 39 percent stake of Bank Pan Indonesia (Panin) from ANZ Bank. The sale will net the Australian based bank US$612 million (A$A852.5 million).
Following ANZ’s initial invitation for bids, sources said only a small number of suitors indicated interest in the Indonesian lender.
Bloomberg, who first reported on the interest from Fubon, said that Span’s Banco Bilbao Vizcaya Argentaria was expressed interested in the purchase.
ANZ’s desire to divest itself of Panin follows a need to raise capital and sell assets after the country’s domestic regulator, Australian Prudential Regulation Authority, ordered them to set aside more reserves against their oversized mortgage books.
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