[lbo-talk] India's State Bank Buys 76 Pct in Indonesia Bank

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Mon Nov 14 15:06:39 PST 2005

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Reuters.com

State Bank of India Buys 76 Pct in Indonesia Bank

Mon Nov 7, 2005

MUMBAI (Reuters) - State Bank of India (SBI.BO: Quote, Profile, Research) said on Monday it had agreed to buy 76 percent of Indonesia's PT Bank IndoMonex for an undisclosed amount, in the third overseas acquisition by India's largest lender this year.

State Bank had earlier bought Mauritius-based Indian Ocean International Bank and Giro Commercial Bank Ltd. in Kenya.

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