DBS to buy Temasek’s stake in Bank Danamon Indonesia
Singaporean lender DBS Group will buy Temasek Holdings’ majority stake in Bank Danamon Indonesia for about $4.9 billion. Already Southeast Asia’s biggest bank, DBS sees the acquisition as a means of accessing the region’s largest economy, which grew nearly 6.5% last year.
DBS said in a statement to the Singapore Stock Exchange that it would also seek to purchase the 33% of Bank Danamon not already owned by Temasek. The bank will offer IDR7,000 in cash for each of the remaining...
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