UPDATE 1-StanChart enters fray for Indonesia's Bank Permata

Newswire

HONG KONG, July 23 (Reuters) - Standard Chartered Plc. said on Friday it will team up with an Indonesian car distributor to bid for a 71 percent state-held stake in PT Bank Permata Tbk. , worth around $250 million. StanChart , which is London-based but highly focused on Asia, joins a growing list of potential suitors for a chance to get a foothold in Indonesia's banking sector. On Thursday, Indonesian authorities said over 32 institutions were interested in the state's stake in Permata. ...

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