temasek-gets-us-antitrust-approval-to-raise-merrill-stake

Temasek gets US antitrust approval to raise Merrill stake

The approval involves $3.4 billion already committed by Temasek in July. It does not involve any fresh capital infusion.
August 27, 2008
The US Federal Trade Commission has granted Temasek Holdings, the investment arm of the Singapore government, approval to increase its stake in Merrill Lynch to beyond 10%. Foreign investors are generally prohibited from owning more than 10% of a US bank, unless they receive regulatory approval to do so.

A spokeswoman at Temasek says the US antitrust approval involves investments ôalready committedö by the Singapore investment firm, referring to a $3.4 billion commitment it made in July. The approval is not for any fresh capital infusion that has not been announced previously, she explains.

The spokeswoman says, however, that there are other regulatory approvals needed to finalise TemasekÆs additional $3.4 billion investment in Merrill Lynch....
¬ Haymarket Media Limited. All rights reserved.

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