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Sovereign Wealth Funds Briefing - Categorized | Investment

Singapore fund acquire DBS stake in BPI

Posted on 13 November 2013

DBS Group Holdings Ltd., Singapore’s largest lender, has sold its remaining stake in Bank of the Philippine Islands (BPI), the Philippines’ third-largest bank by assets. Ayala Corporation and Singapore’s sovereign wealth fund GIC Pte bought DBS’ 9.9% stake in BPI for P29.6 billion, Ayala told the Philippine Stock Exchange on Tuesday, November 12.
DBS is exiting the bank after 14 years to “focus on its core markets,” including Singapore, Hong Kong, China, Taiwan, India and Indonesia………………………………………..Full Article: Source


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