Tuesday, January 13, 2009

ANZ Bank pays $114 million to boost stake in Panin Bank

Australia & New Zealand BankingGroup Ltd. has increased its stake in Indonesia’s PT Panin Bank to 38.3 percent.

ANZ paid $114 million for a further 8.4 percent stake of PT Panin, the Melbourne-based bank said in a statement today. The shares were bought off-market from institutional investors, the
statement said.

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