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Sovereign Wealth Funds Briefing - Categorized | Financials

DBS, Temasek extend Danamon pact

Posted on 09 April 2013

DBS Group Holdings’ agreement to buy 67.4 per cent of Indonesia’s PT Bank Danamon from Singapore state investor Temasek Holdings Pte Ltd has been extended by another two months, as approval of the deal languishes in Jakarta.
The so-called “long stop date” or the last date of the agreement expired last week, sources said. “DBS confirms that we have extended the long stop date to June 2 or such other later date as the parties may agree,” a DBS spokesman said. Temasek now owns 29 per cent of Singapore-based DBS. That will rise to about 40 per cent if the Danamon deal goes through………………………………………..Full Article: Source


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