Temasek to Sell Stake in Danamon to DBS Group Holdings Ltd

Piyush Gupta

Asian holdings make up a major portion of Temasek’s investment portfolio. DBS Group Holdings Ltd. (DBS) will purchase PT Bank Danamon Indonesia for 45.2 trillion rupiah ($4.9 billion) from Temasek Holdings for its 67% stake. The bank stake is held by Temasek’s sovereign wealth enterprise (SWE) Fullerton Financial Holdings Pte. This is one of the largest banking takeovers in Southeast Asia in over a decade. Temasek has held this investment in Danamon for a long time starting in June 2003 in a deal with Deutsche Bank AG.

DBS plans a bid to purchase the rest of the Asian lender. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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