TOKYO -- MUFG Bank announced Tuesday that equity-method affiliate Bank Danamon Indonesia will merge with an Indonesian group lender as part of a plan to turn the former into a wholly owned subsidiary.
Business deals
Japan's MUFG Bank to take over Indonesian peer
Bank Danamon to merge with a local group lender as first step
A woman walks in front of Bank Danamon headquarters in Jakarta. MUFG has gradually increased its ownership of the Indonesian bank. © Reuters
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