Singapore's DBS eyes Indonesia with $7.3 bln bank purchase

Mon, 04/02/2012 - 03:05 EDT - France24.com - Business

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Singapore's DBS Group Holdings on Monday announced plans to buy Indonesia's PT Bank Danamon for Sg$9.1 billion ($7.3 billion) to ramp up its business in Southeast Asia's biggest economy.DBS will pay Sg$6.2 billion for the 67.37 percent stake held by a subsidiary of Singapore's state investment firm Temasek Holdings' Fullerton Financial Holdings and will finance the purchase through the issuance of new stock.

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Singapore's DBS to buy Indonesia bank for $7.3 bln
Singapore's DBS Group Holdings on Monday announced plans to buy Indonesia's PT Bank Danamon for Sg$9.1 billion ($7.3 billion) to ramp up its business in Southeast Asia's biggest economy.DBS will pay Sg$6.2 billion for the 67.37 percent stake held by a subsidiary of Singapore's state investment firm Temasek Holdings' Fullerton Financial Holdings and will finance the purchase through the issuance of new stock.
DBS to Buy Temasek's Stake in Indonesia's Bank Danamon
DBS to pay $7.2 billion for Indonesia's Bank Danamon
SINGAPORE (Reuters) - DBS Group Holdings , Southeast Asia
DealBook: DBS Group to Buy Bank Danamon for $7.2 Billion
DBS Group Holdings of Singapore agreed on Monday to buy Bank Danamon of Indonesia for $7.2 billion in one of the largest ever takeovers in Southeast Asia's financial services industry.
Seah Says DBS Can Bring Value, Strength to Bank Danamon
DBS to pay $7.2 billion for Indonesia's Bank Danamon
SINGAPORE (Reuters) - DBS Group Holdings , Southeast Asia's biggest bank, has agreed to pay $7.24 billion for Indonesia's Bank Danamon , offering a hefty 52 percent premium and raising questions among investors over whether it has overpaid.
DBS to pay $7.2 billion for Indonesia's Bank Danamon
DBS Group Holdings , Southeast Asia's biggest bank, has agreed to pay $7.24 billion for Indonesia's Bank Danamon , offering a hefty 52 percent premium and raising questions among investors over whether ...
Singapore's Temasek Holdings president quits
The president of Singapore's Temasek Holdings has stepped down for personal reasons, a spokesman for the state-linked investment firm said Wednesday."Mr Hsieh Fu Hua has decided to step down from his executive role as president to make room for personal priorities," Temasek spokesman Jeffrey Fang said in a statement.However, Hsieh "will continue with his non-executive responsibility as a Temasek Board member as well as Chairman of Fullerton Fund Management Company Ltd, ST Asset Management Ltd and the Stewardship and Corporate Governance Centre," the statement added.
Anlaysis: Indonesia may shoot own-goal with DBS-Danamon decision
By Saeed Azhar and Janeman Latul SINGAPORE/JAKARTA
Temasek trims stakes in Chinese banks
Singapore state investment firm Temasek Holdings has sold part of its stakes in two of China's biggest banks for a total of $3.62 billion.Temasek sold part of its Hong Kong-listed shares in China Construction Bank (CCB) and Bank of China (BOC) -- two of China's "Big Four" -- through two holding units, Dow Jones Newswires said, quoting a source familiar with the deal.A Temasek spokesman declined to comment when contacted by AFP.Temasek unit Fullerton Financial Holdings Pte Ltd sold 5.188 billion shares in Bank of China through placements, raising $2.42 billion.

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Singapore's DBS eyes Indonesia with $7.3 bln bank purchase

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