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APRO Service Group boosts stake in Indonesia's Bank Andara

APRO Service Group Co. Ltd. said it plans to acquire another Indonesia-based bank after it boosted its stake in PT Bank Andara to 99% from 40%.

The South Korean group said May 29 that it would seek to buy another Indonesian bank and then merge that with Bank Andara. The group had closed the acquisition of a 40% stake in Bank Andara in November 2016.