Indovina Bank up for sale<\/p>\n
HANOI (Dow Jones): Indovina bank, a joint venture between
\nIndonesia's Bank Dagang Nasional Indonesia (BDNI) and state-owned
\nIndustrial & Commercial Bank of Vietnam (Incom Bank) is up for
\nsale, a source at Indovina told Dow Jones Newswires.<\/p>\n
He said that a number of companies have expressed interest in
\nIndovina whose future has been the subject of much speculation
\never since its Indonesian parent was shut down Aug. 21 by the
\ngovernment after the state injected huge liquidity into the bank
\nearlier this year amid massive bank runs.<\/p>\n
Officials at the Indonesian Bank Restructuring Agency, set up
\nby the central bank to recover government credit, couldn't
\nconfirm whether the agency was negotiating to sell BDNI's stake
\nin Indovina. The former owners of BDNI - once one of Indonesia's
\nlargest banks - reached agreement in principle with the
\ngovernment in September to repay the US$2.5 billion it owes the
\nstate in a mixture of assets and cash.<\/p>\n
This has led to speculation regarding the sale of its assets,
\nboth inside and outside Indonesia.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/indovina-bank-up-for-sale-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}