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>

Anette Jönsson

April 03, 2012

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.

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