JAKARTA / SEOUL -- Industrial Bank of Korea is planning to acquire a majority stake in Indonesia's publicly-listed Bank Agris, the two lenders announced on Tuesday.
According to an announcement by Bank Agris published in local newspapers, the state-run South Korean lender plans to buy an 87.3% stake from an investment vehicle controlled by Benjamin Jiaravanon, a member of the founding family of Thai conglomerate Charoen Pokphand Group, as well as from minority shareholders.
