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Taiwan insurer buys stake in Indonesian bank

Tuesday, January 6, 2015 - 05:50

Taipei

A UNIT of Cathay Financial Holding Co Ltd has agreed to buy a 40 per cent stake in Indonesia's Bank Mayapada Internasional Tbk PT for US$278 million, in the Taiwanese group's third overseas deal in the past six months.

The purchase of Bank Mayapada by Cathay Life Insurance

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