Sumitomo will acquire 40% stake in the life insurance division in a deal that is scheduled to be announced in the coming weeks, Bloomberg reported citing undisclosed sources.
PT Bank Negara Indonesia vice president director Felia Salim was quoted by the website as saying that the company is still in talks on selling a stake in the life insurance unit and expects to sign a deal before the end of 2013.
Go deeper with GlobalData
The Indonesian bank is expected to remain as the majority stakeholder in the unit.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
