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US investment firm wins bid for Indonesia's largest retail bank

United States investment firm, Farallon Capital Management, has won the bidding to buy Indonesia's largest retail bank, Bank Central Asia.

The A-F-P newsagency says it had been widely expected that British-based Standard Chartered Bank, the other final bidder would win.

The sale of the bank, which was taken over by the government in the wake of the 1997-1998 financial crisis, is seen as a crucial test of Indonesia's seriousness in pushing ahead with economic reforms and restructuring.

15/03/2002 11:05:50 | ABC Radio Australia News

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