TOKYO -- Itochu will invest roughly $50 million in an Indonesia peer-to-peer lending business that sees the Southeast Asian country's underdeveloped financial infrastructure as an opportunity to spread a new generation of credit services.
The transaction, which the Japanese trading house looks to complete this summer, is expected to give Itochu at least a 30% stake in PDP, a Jakarta-based subsidiary of local conglomerate Sinar Mas Group.
