DBS Group Holdings Ltd, southeast Asia's largest bank by assets, Monday said it plans to acquire Indonesia's PT Bank Danamon (>> PT Bank Danamon Indonesia Tbk) for S$9.1 billion.
DBS has agreed to acquire a 67.4% stake held by Fullerton Financial Holdings, a wholly-owned unit of Singapore state investment firm Temasek Holdings, through the Asia Financial (Indonesia) holding company for about S$6.2 billion, which it will pay for by way of new stock. Full story
Related:
DBS to pay US$7.2 bln for Indonesia's Bank Danamon - Reuters
DBS to Buy Temasek Stake in Bank Danamon for $7.2 Billion - Bloomberg
