Malaysia's RHB reduces planned acquisition in Indonesia's Mestika Bank

RHB Capital cut its proposed purchase in Indonesia’s  Bank Mestika to 40 percent from the 80 percent it planned.

It has offered RM651.13 million for the reduced stake, down from the RM1.1 billion.

Indonesia’s central bank said last July it was capping single-party ownership of domestic banks at 40 per cent, but would allow exemptions that pave the way for DBS Group’s US$7.2 billion (RM21.6 billion) bid for PT Bank Danamon to proceed.

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