Indonesia bank bidders jockey for partners.

Byline: Shu-Ching Jean Chen in Hong Kong

After missing several self-imposed deadlines, Indonesia is expected to pick a winner Monday in the auction of the nation's fifth-largest bank, PT Bank Danamon, as bidders scramble to put together last-minute alliances.

Raymond van Beekum, a spokesman for the Indonesian Bank Restructuring Agency, which is charged with privatizing hundreds of failed corporate assets nationalized during the 1997-98 regional financial crisis, said three bidders short-listed in March to buy the government's 51% stake in Danamon will submit a final bid Monday, May 5.

The IBRA, which hopes to raise $400 million in the sale, will …