Qatar Islamic Bank has withdrawn as a bidder for PT Bank Muamalat Indonesia. Qatar Islamic along with PT Bank Permata, which is 45 percent owned by Standard Chartered Plc, and Oversea-Chinese Banking Corp had sought a controlling stake in Bank Muamalat.
Shareholders of closely-held Bank Muamalat planned to sell more than 50 percent of the lender in a deal worth as much as US$600 million.
Tuesday, July 5, 2011
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