The Indonesian government disposed one more of its residual holdings in the domestic banking sector yesterday January 18, raising $147 million from the sale of shares in Bank Internasional Indonesia BII.
Temasek Holdings, the investment arm of the Singapore government, is said to have made a bid for the entire deal and been allocated a 6.1% stake in the bank. Based on recent ownership figures, this will boost its overall holding from about 28.5% to 34.6%.
Pre-deal Temasek owned 50% of the Sorak consortium, which successfully won a 51% stake in BII at a government auction in November 2003. As of September 2004, Sorak held...
