01.08.2013 - DBS drops $6.5 bln bid to Danamon Indonesia stake
DBS Group Holdings Ltd. (DBS) ended a bid to buy PT Bank Danamon Indonesia for $6.5 billion in what would have been Southeast Asia’s largest banking takeover after failing to win regulatory approval for a majority stake. The agreement to acquire control from Temasek Holdings Pte’s Fullerton Financial Holdings unit will lapse after today’s deadline, Singapore-based DBS said in a statement yesterday. Southeast Asia’s largest bank had offered on April 2, 2012, to buy 99 percent of Danamon -- including a 67 percent stake from Fullerton -- for 66.4 trillion rupiah ($6.5 billion)...............................................Full Article: Source
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