China Construction Bank Corp., the world's second-largest lender by market value, made a preliminary bid for control of PT Bank Maspion Indonesia.
Bank Maspion plan to sell more than 50 percent of the lender, which is valued at about $200 million. A stake sale to a strategic buyer may help Surabaya-based Maspion expand its business catering to small and medium-sized companies.
Construction Bank has yet to decide if it will make a binding offer after Indonesia's government last month said it will enact new bank ownership rules this year that may bar Construction Bank
from holding a majority stake.
from holding a majority stake.
Bank Indonesia, said it plans to limit a single investor's maximum ownership of commercial banks to improve governance in the industry. Governor BI Darmin Nasution told parliament on July 1 that while the limit will be less than 50 percent, the exact percentage hadn't been decided.
Malaysia and Singapore also impose restrictions on ownership of commercial banks. PT Alim Investindo owns 77.8 percent of Maspion.
Malaysia and Singapore also impose restrictions on ownership of commercial banks. PT Alim Investindo owns 77.8 percent of Maspion.
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