Swiss Bank sells stake

Swiss Bank sells stake

JAKARTA (JP): Lippo Group agreed yesterday to take over Swiss
Bank Corporation's 17.2 percent stake in the publicly-listed PT
Lippo Securities.

Lippo Group announced that the takeover raised the group's
stake in the listed securities company to 67.3 percent.

Swiss Bank is planning to establish a majority-owned
securities company in Indonesia and has recently appointed Renee
Zecha as a senior consultant in Indonesia.

Lippo Group also said that the Swiss bank will continue to
refer its international brokerage business in Indonesia to Lippo
Securities. (hen)