An Acquisition of Major Proportion
If it goes through, Singapore-based DBS Bank's bid for a controlling stake in Indonesia's Bank Danamon will be the largest in this nation, following the acquisition of cigarette conglomerate Sampoerna by Philip Morris.
April 11, 2012
Flying out from Singapore to Jakarta, DBS's CEO, Piyush Gupta had big news to share -DBS was bidding to buy a controlling stake in Indonesia's Bank Danamon. For 6.2 billion Singapore dollars, DBS, the owner of Southeast Asia's largest bank, planned to buy Temasek's 67.37 percent stake in Danamon from a unit of Singaporean sovereign wealth fund Temasek Holdings. DBS hoped to buy the remainder of the shares it does not own from minority owners. Should
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