DBS Group Holdings Ltd. (DBS) agreed to buy a 30 percent stake in Singapore’s Marina Bay Financial Centre Tower 3, where the move of its headquarters was completed in October, for S$1.04 billion ($850 million) in cash.
DBS, Southeast Asia’s biggest lender, will buy the stake from a joint venture of Hutchison Whampoa Ltd. (13) and Cheung Kong Holdings Ltd. (1), it said in a statement today. The two companies are both controlled by Li Ka-shing, Asia’s richest man. Full story
