Bank Niaga sale finalized

Indonesia''s parliament approves the sale of Bank Niaga to Commerce Asset Holdings.
September 26, 2002

On Wednesday evening Indonesia's parliament finally approved the sale of 51% of Bank Niaga to Commerce Asset Holdings of Malaysia. The Indonesian Bank Restructuring Agency (IBRA) will receive Rp1.057 trillion ($118 million) for a price of Rp26.5 per share.

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