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Bangkok Bank to strengthen regional position through acquisition of Permata in Indonesia from Standard Chartered Bank and Astra International

Bangkok, Thailand — December 19, 2019
Bangkok Bank Public Company Limited announced that the Bank has entered into a conditional share purchase agreement with Standard Chartered Bank and PT Astra International Tbk to acquire their aggregate 89.12% shareholding in Indonesian bank PT Bank Permata Tbk. The Transaction is expected to close within 2020. Bangkok Bank anticipates conducting a mandatory tender offer for the remaining 10.88% stake in Permata following the completion of its acquisition of the 89.12% stake.
Photo shows: Bangkok Bank’s senior executives, led by Deja Tulananda (center), Executive Chairman; Chansak Fuangfu (2nd left), Executive Director And Senior Executive Vice President; Charamporn Jotikasthira (2nd right), Executive Director; Chaiyarit Anuchitworawong (far rifht), Senior Executive Vice President; and Thaweelap Rittapirom (far left), Executive Director and Executive Vice President, announced the bank’s plan to acquire Indonesia’s Bank Permata.