Jakarta (ANTARA News) - PT Bank Permata Tbk will sell 98.36 percent of its shares in PT Bali Securities at between Rp40 billion and Rp45 billion, president director David Martin Fletcher said here on Wednesday.

He said the company decided to sell the unit because it wished to focus on banking business.

"We will focus on banking businesses particularly commercial and consumer credit sectors," he said.

He said the Financial Insitution and Capital Market Supervisory Board (Bapepam-LK) had approved the plan.

He would not tell who would buy the unit. "It would be better if it comes from the Bali Securities management," he said.(*)

Editor: B Kunto Wibisono

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