DBS keeps the M&A wheel turning

One has to say, thank God for Singapore. Without the Singaporeans, the M&A market would be virtually dead this year. But thanks to SingTelÆs acquisition of Optus and DBSÆs acquisition of Dao Heng Bank, it at least shows signs of life.

DBSs latest deal which has been under secret negotiation since last October sees the Singaporean bank expand its presence in Hong Kong. The acquisition was not unexpected, given DBSs recent move to raise $782 million of non-cumulative perpetual tier 1 capital further expanding its already heavy capital base. MA specialists knew that this Goldman Sachs- and Morgan Stanley-led deal signalled an acquisition was on the cards.

And both the US banks have carved up the spoils...

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