KEY POINTS:
Commonwealth Bank of Australia, the nation's second-largest bank by assets, offered to buy 83 per cent of Indonesia's PT Bank Arta Niaga Kencana for 261.8 billion rupiah ($40 million).
Commonwealth's Indonesia unit, PT Bank Commonwealth, plans to buy 157.71 million shares of Arta Niaga at 1660 rupiah each, CBA said.
The offer price is 55 per cent higher than Arta Niaga's last closing share price of 1070 rupiah.
