DBS buys Danamon

DBS to pay $4.9 billion for Temasek's Bank Danamon stake

The Singapore bank will also make an offer to minority shareholders at a 52.2% premium to the latest close, which could potentially increase the acquisition cost to $7.2 billion.
<div style="text-align: left;">
DBS’s group CEO, Piyush Gupta (AFP)</div>
<div style="text-align: left;"> DBS’s group CEO, Piyush Gupta (AFP)</div>

DBS Group Holdings early yesterday confirmed that it has entered into an agreement to buy Temasek Holdings’ 67 4% stake in Bank Danamon Indonesia for Rp45 2 trillion ($4 9 billion), which will be paid entirely through the issuance of new shares to Temasek

DBS will also make a mandatory tender offer to Danamon’s minority shareholders If the tender is accepted in full, the acquisition will cost DBS a total of $7 2 billion This would make it the largest-ever M&A transaction in Indonesia and the second largest in Southeast Asia, according to Dealogic

Singapore-listed DBS will pay Rp7,000 per share, which...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222