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Watch onSINGAPORE - Malaysian bank CIMB and Japanese finance company J Trust are among firms vying to buy Indonesia's PT Bank Commonwealth, a deal that could value the lender at $400-$500 million, two sources with knowledge of the matter said.
CIMB, Malaysia's No. 2 bank, and J Trust have expressed interest and are looking at submitting binding bids, the sources said. Both companies have banking units in Indonesia.Bank Commonwealth did not respond to a Reuters request seeking comment. It was first established in 1997 as a CBA venture with Bank International Indonesia. CBA became its controlling shareholder in 2002 and changed its name to Bank Commonwealth.
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