Bangkok Bank Pcl, Thailand’s third-largest lender by assets, said on Thursday it had agreed to buy an 89.1% stake in Indonesia’s PT Bank Permata for about $2.7 billion, in the first major overseas acquisition for a Thai bank.
The Thai lender will acquire the stake in the mid-sized Indonesian lender from Standard Chartered and Indonesia’s PT Astra International, it said in a statement, adding that the deal is expected to close in 2020.
