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Sovereign Wealth Funds Briefing - Categorized | Financials

DBS, Temasek extend deadline for $7.3 bln Bank Danamon deal

Posted on 09 April 2013

Singapore’s DBS Group Holdings Ltd.has secured a two-month extension for its US$7.3 billion acquisition of PT Bank Danamon, a deal that has languished for a year as it awaits approval from Indonesia’s central bank.
DBS’s acquisition of a 67.4% stake in Danamon from Singapore state investment firm Temasek Holdings Pte. Ltd. has been stuck, even after the Indonesian central bank made changes to bank ownership rules in July that analysts said would permit the deal to go through. Temasek controls 29.4% of DBS, Southeast Asia’s largest bank by assets………………………………………..Full Article: Source


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