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Business & Finance

Indonesia's Bank Muamalat says investors eyes stake in the bank

JAKARTA : Bank Muamalat, Indonesia's second biggest sharia bank, said on Wednesday that several foreign and local invest
Published May 25, 2011

muamalatJAKARTA: Bank Muamalat, Indonesia's second biggest sharia bank, said on Wednesday that several foreign and local investors had been conducting due diligence to buy a stake in the bank over the past month after top shareholders decided to sell their stake.

Top shareholders of Bank Muamalat are looking to sell at least 51 percent stake in the bank, a source with direct knowledge of the deal told Reuters.

Andi Buchari, a director at Bank Muamalat declined to name the investors, the deadline for the sale and the size of the stake." It's the decision of our shareholders," he said.

Copyright Reuters, 2011

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