The Jakarta Globe, 18 Apr 2012Amid the political wrangling over DBS Group Holdings’ takeover of Bank Danamon Indonesia, Singapore’s sovereign wealth fund Temasek Holdings stands to emerge as the biggest winner — at least on paper, anyway.
In the terms of the deal Temasek, the parent company of DBS, will sell its 67.4 percent stake in Bank Danamon for Rp 45.2 trillion ($4.9 billion) in exchange for new DBS shares. Following the transaction Temasek’s ownership in DBS, Southeast Asia’s biggest bank by assets, will rise to 40.4 percent from 29.5 percent. Full story
