www.reuters.com - (Reuters) - Malayan Banking Berhad (Maybank) will delay the sale of a 10.7 percent stake in PT Bank Internasional Indonesia because of weak investor interest, the companies said on Thursday.
Maybank, Malaysia's biggest
lender by assets, said in
January it had appointed UBS to handle the sale of the
stake in BII. It is required by the Indonesian capital market
regulator to reduce its stake to 80 percent from 97 percent
BII's CEO Dato
Khairussaleh bin Ramli said it was seeking a
sixth month extension from the regulator until the end of the
year so that it would still be able to do the share sale.
"Our financial advisor UBS hasn't found an
wants to buy," said Tan Sri Dato' Megat Zaharuddin bin Megat
Mohd Nor, Maybank's chairman and BII's president commissioner.
(Reporting by Fathiya Dahrul; Editing by Neil Chatterjee)
Source: http://www.reuters.com/article/2012/04/19/maybank-bii-idUSL3E8FJ5XH20120419 - April 19, 2012