November 9, 2017 / 6:51 AM / a year ago

Indonesia's Bank Danamon says "expression of interest" received for stake

JAKARTA, Nov 9 (Reuters) - Bank Danamon Indonesia said on Thursday its controlling shareholder had received an “expression of interest” related to its shareholding in the company.

Danamon did not say from whom the expression of interest had come from.

Sources said earlier that Japan’s Mitsubishi UFJ Financial Group (MUFG) is looking to buy a 40 percent stake from Singapore state investor Temasek Holdings in the Indonesian bank for around 200 billion yen ($1.75 billion).

“We understand that this interest depends on further negotiations...It is not definite that the transaction will be implemented,” Rita Mirasari, Danamon’s corporate secretary, said in a statement.

The statement said that Asia Financial (Indonesia), a Temasek unit that holds a 68 percent stake in Danamon, had received the expression of interest. (Reporting by Cindy Silviana; Writing by Kanupriya Kapoor; Editing by Muralikumar Anantharaman)

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