Woori Bank Obtains Approval To Buy 33% Stake In Bank Saudara

News: South Korea-based Woori Bank has reported that its proposed acquisition of a 33% stake in Indonesia's Bank Saudara has been approved by the financial regulators. Woori Bank's unit PT Bank Woori Indonesia had reportedly signed a contract to acquire the stake that equates to 764.4mn shares in PT Bank Himpunan Saudara in June 2012. The acquisition will make Woori Bank the second-largest stakeholder in the bank.

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Geography: South Korea
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