July 31, 2018 / 7:56 AM / 2 months ago

Indonesia's regulator approves MUFG's request to raise stake in Bank Danamon

JAKARTA, July 31 (Reuters) - Indonesia’s Financial Services Authority (OJK) has approved Japanese lender Mitsubishi UFJ Financial Group’s (MUFG) request to increase its stake in Bank Danamon to 40 percent, MUFG said in a statement on Tuesday.

The OJK approved MUFG’s planned purchase of Asia Financial’s stake of 20.1 percent in Danamon, MUFG said, adding that it would complete the takeover of those shares “as soon as possible”. (Reporting by Cindy Silviana Writing by Gayatri Suroyo; Editing by Nick Macfie)

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