Sumitomo Mitsui Financial Group (SMFG) and Singapore lender OCBC Group ...
) each own a 45% stake in Permata, whose shares have nearly doubled this year to value it at about $2.7 billion.
Established in 1955, Permata operates about 320 branches in Southeast Asia’s biggest economy and is a medium-sized bank among Indonesia’s 100-plus lenders. SMFG’s banking unit and OCBC have separately carried out due diligence on Permata in the last few months, the sources said.
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