Non-binding bids for the stake are due to be put forward this month.
Oversea-Chinese Banking Corp (OCBC) and CIMB Group Holdings are are vying for a controlling stake in Bank Pan Indonesia (Panin Bank) now held bhy ANZ and the Gunawan family, reported Reuters, citing three sources.
The Gunawan family, which founded the Jakarta-listed bank in 1971, holds a stake of 46.52% while ANZ holds 39.22%, with a combined value of some US$2.4 billion.
