Exclusive-ANZ, Gunawan family consider selling control of Indonesia's Panin Bank, sources say
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 03 2024
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Source: Yahoo Finance
Potential Sale of Bank Pan Indonesia: ANZ and the Gunawan family are considering selling their controlling interest in Bank Pan Indonesia, with a combined stake valued at approximately $2 billion. Citigroup has been appointed to manage the sale process.
ANZ's Strategic Exit: This move aligns with ANZ's strategy to divest low-returning business lines in Asia, as they have been attempting to exit their investment in Panin Bank since 2013 due to valuation concerns.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
