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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Standard Chartered    STAN   GB0004082847

STANDARD CHARTERED

(STAN)
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Standard Chartered to Sell 44.56% Stake in Bank Permata for $1.3 Billion

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12/12/2019 | 05:39am EST

By Adria Calatayud

Standard Chartered said Thursday that it has agreed to sell its 44.56% interest in Indonesia's Bank Permata for $1.3 billion to Bangkok Bank PCL.

The Asia-focused bank said completion of the transaction is conditional on the satisfaction of certain conditions, including approval by the purchaser's shareholders and regulatory approvals in Indonesia and Thailand. Following the sale, Standard Chartered will cease to have any interest in Permata.

"The sale of our stake in Permata will allow us to focus on our wholly-owned business in the large and strategically important Indonesian market; and will release capital for reinvestment or return to shareholders," Chief Executive Bill Winters said.

In February, the lender said its interest in Permata was no longer core as it had chosen to focus on its wholly-owned banking presence through Standard Chartered Bank Indonesia.

Write to Adria Calatayud at adria.calatayud@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
BANGKOK BANK PCL End-of-day quote.
BANK PERMATA TBK PT End-of-day quote.
STANDARD CHARTERED -0.29% 689 Delayed Quote.-3.00%
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Financials (USD)
Sales 2019 15 408 M
EBIT 2019 4 944 M
Net income 2019 2 295 M
Debt 2019 -
Yield 2019 3,79%
P/E ratio 2019 9,97x
P/E ratio 2020 7,81x
Capi. / Sales2019 1,43x
Capi. / Sales2020 1,37x
Capitalization 22 006 M
Chart STANDARD CHARTERED
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Standard Chartered Technical Analysis Chart | MarketScreener
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Technical analysis trends STANDARD CHARTERED
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 9,33  $
Last Close Price 6,89  $
Spread / Highest target 87,3%
Spread / Average Target 35,5%
Spread / Lowest Target -18,2%
EPS Revisions
Managers
NameTitle
William Thomas Winters Group Chief Executive Officer & Executive Director
José Viñals Group Chairman
David Whiteing Group Chief Operating Officer
Andrew Nigel Halford Group Chief Financial Officer & Executive Director
Michael Gorriz Group Chief Information Officer
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