Advertisement
Singapore markets close in 5 hours 47 minutes

  • Straits Times Index

    3,156.92
    -30.74 (-0.96%)
     

  • Nikkei

    36,818.81
    -1,260.89 (-3.31%)
     

  • Hang Seng

    16,069.35
    -316.52 (-1.93%)
     

  • FTSE 100

    7,877.05
    +29.06 (+0.37%)
     

  • Bitcoin USD

    61,381.17
    -666.67 (-1.07%)
     

  • CMC Crypto 200

    1,258.10
    +372.56 (+39.68%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • Dow

    37,775.38
    +22.07 (+0.06%)
     

  • Nasdaq

    15,601.50
    -81.87 (-0.52%)
     

  • Gold

    2,417.10
    +19.10 (+0.80%)
     

  • Crude Oil

    85.69
    +2.96 (+3.58%)
     

  • 10-Yr Bond

    4.6470
    +0.0620 (+1.35%)
     

  • FTSE Bursa Malaysia

    1,548.86
    +4.10 (+0.27%)
     

  • Jakarta Composite Index

    7,048.77
    -118.04 (-1.65%)
     

  • PSE Index

    6,435.15
    -88.04 (-1.35%)
     

Japan's SMFG boosted after two rivals drop out from Bank Permata bidding-sources

By Anshuman Daga and Takashi Umekawa
Updated

By Anshuman Daga and Takashi Umekawa

SINGAPORE, Nov 15 (Reuters) - Sumitomo Mitsui Financial Group's (SMFG) chances of acquiring a majority stake in PT Bank Permata have improved after two key rivals dropped out of the race to buy the $2.4 billion-valued Indonesian lender, sources said.

While Singapore lender OCBC Group Holdings and DBS Group Holdings Ltd had shown interest in the auction for mid-sized Permata, they are no longer pursing it, the sources, who declined to be named because they were not authorised to talk to the media, said.

Reuters reported last week that SMFG and OCBC were working on competing offers and were seen as the frontrunners for Permata.

ADVERTISEMENT

Standard Chartered Plc (StanChart) and Indonesian conglomerate PT Astra International each own a 45% stake in Permata.

Standard Chartered, SMFG, OCBC and DBS declined comment. Reuters was not immediately able to reach Astra for a comment. (Reporting by Anshuman Daga and Takashi Umekawa; Editing by David Clarke)