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UPDATE 1-Indonesia's Astra exec says it will not sell stake in Bank Permata
February 24, 2017 / 7:00 AM / 10 months ago

UPDATE 1-Indonesia's Astra exec says it will not sell stake in Bank Permata

(Adds comment from Indonesian tycoon)

JAKARTA, Feb 24 (Reuters) - Indonesian conglomerate PT Astra International Tbk will not sell its stake in lender PT Bank Permata Tbk, the company’s top executive said on Friday.

Astra and Standard Chartered PLC each owned 44.8 percent of Permata as of Dec. 31, according to Thomson Reuters data.

Last month, Indonesian tycoon Tahir told Reuters he was interested in buying all of Permata and merging it with PT Bank Mayapada Internasional Tbk, starting with the stake held by Asia-focused Standard Chartered.

“We will not get out of Permata. As a shareholder, we have mid-term and long-term plans,” Astra President Director Prijono Sugiarto told reporters.

Asked for a response to Sugiarto’s comment, Tahir said he may look for another bank to acquire. He declined to give details. (Reporting by Cindy Silviana; Writing by Eveline Danubrata; Editing by Muralikumar Anantharaman and Stephen Coates)

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