JAKARTA (Yosefardi) – Mitsubishi UFJ Financial Group Ltd, the largest bank in Japan, is reportedly keen to acquire 39% stake in PT Bank Panin Tbk (PNBN) from The Australia and New Zealand Banking Group Ltd (ANZ).
Bloomberg reported that Mitsubishi and Mizuho are listed as the bidders for tender of Bank Panin shares.
Other bidders are CTBC Financial Holding Co and Fubon Financial Holding Co from Taiwan, investment firms CVC Capital Partners Ltd, and Spain-based bank, Banco Bilbao Vizcaya Argentaria SA.
ANC has earlier announced its plan to boost its capital by Aus$3 billion (US$2.2 billion) through shares placement, to comply with new regulation ruled by Australia’s regulator.
Bank Panin also plans to revaluate its assets, then to boost its capital adequacy ratio (CAR) to 20% from current 16.45%.