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DBS, OCBC Reportedly Vying for HSBC's Indonesia Retail Banking Assets
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DBS Group, OCBC, UOB, Malaysia's CIMB, and Sumitomo Mitsui Financial Group (8316.JP) are wrestling to bid for HSBC HOLDINGS (00005.HK)'s Indonesia retail banking assets, with the deadline for submitting binding bids set for mid-March, Bloomberg reported, citing people familiar with the matter. HSBC has been reportedly discussing with advisors the sale of its Indonesia retail banking business, with the valuation of the related assets possibly topping USD200 million. HSBC previously stated that it is conducting targeted strategic reviews of its retail banking businesses in Australia, Indonesia, and Egypt, but no decisions have been made yet. AASTOCKS Financial News Website: www.aastocks.com |
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