Published by
The Bangkok Post
The Bangkok Post
Kasikornbank (KBank) is to buy a major stake in Indonesia-based PT Bank Maspion Indonesia Tbk to strengthen its regional banking business. According to the bank’s statement to the Stock Exchange of Thailand yesterday, the bank’s wholly owned subsidiary Kasikorn Vision Financial Company Pte (KVF) has entered into a conditional sale and purchase agreement to become a major shareholder in Indonesia-based PT Bank Maspion. KVF will conduct a transaction with an investment fund not exceeding US$220 million or 7.55 billion baht. After the transaction’s completion, KBank and KVF will altogether hold n…