Indonesia's central bank is expected to limit the maximum stake a single shareholder can take in the country's banks to below 50 percent, a move that could sc u pper Singapore-based DBS Group's $7.3 billion bid for Bank Danamon.
According to sources with direct knowledge of the plan, Bank Indonesia is expected to move the single-shareholder threshold from the current 99 percent to a level below 50 percent.
That would ruin DBS's plan to buy the 67.4 percent stake held by Singapore state investor Temasek Holdings in Indonesia's Danamon, if it can't negotiate an exemption. Full story
Related:
Indonesia to set new bank stake limit - Malaysia Star
DBS-Danamon Deal Seen Imperiled by Ownership Rules - Bloomberg
