SINGAPORE -- A subsidiary of Singapore's Oversea-Chinese Banking Corp. has entered into a deal to buy Indonesia's PT Bank Commonwealth from the Commonwealth Bank of Australia, it was announced on Thursday.
The subsidiary, OCBC Indonesia, will acquire 99% of the issued ordinary shares in PTBC. It also intends to pursue the remaining 1% from other shareholders. The deal for all the shares is expected to come above 190 million Singapore dollars ($140.7 million).
