Fri, Dec 19, 2014
A A A
Welcome preal121
RSS

Sovereign Wealth Funds Briefing - Categorized | Investment

Singapore’s GIC, Ayala buy DBS’ stake in BPI

Posted on 13 November 2013

Ayala Corp. and a Singapore’s sovereign wealth fund have bought out DBS Bank Ltd.’s remaining stake in Bank of the Philippine Islands (BPI). Ayala, together with GIC Private Ltd., paid P29.6 billion for an Ayala DBS Holdings, Inc. stake equivalent to a 9.9% indirect interest in BPI. Ayala increased its ownership of the bank to 48.3%, while GIC took 5.6%.
“DBS has been a strategic investor in BPI since 1999. This divestment is in line with DBS’ focus on its core markets,” DBS chief executive Piyush Gupta was quoted in the statement as saying………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 15416 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

banner
banner
December 2014
M T W T F S S
« Nov    
1234567
891011121314
15161718192021
22232425262728
293031