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25

Japan’s Largest Lender Said to Enter Fray for ANZ’s Bank Panin

By Tony Seruga

Mitsubishi UFJ, Mizuho set to vie for Indonesian bank stake
ANZ selling Bank Panin investment following new capital rules

Mitsubishi UFJ Financial Group Inc. has entered the running for a 39 percent stake in PT Bank Pan Indonesia, people with knowledge of the matter said, potentially setting up a battle between two of Japan’s largest banks.

Japan’s biggest lender and its competitor Mizuho Financial Group Inc. are among shortlisted bidders for Australia & New Zealand Banking Group Ltd.’s holding in Jakarta-based Bank Panin, according to the people, who asked not to be identified as the information is private. Taiwan’s CTBC Financial Holding Co. and Fubon Financial Holding Co. were also invited to submit second-round offers for the stake, which is worth about 8.84 trillion rupiah ($648 million) at the current share price, the people said…

Japan’s Largest Lender Said to Enter Fray for ANZ’s Bank Panin

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