Mar 30, 2012

Fullerton confirms bid for Bank Danamon

DBS Group Holdings is making a bid for the controlling stake in Indonesia's Bank Danamon owned by the bank holding arm of Singapore state investor Temasek Holdings, sources said on Friday.
"Fullerton Financial Holdings confirms it has received an offer for its stake in Asia Financial, which holds shares in Bank Danamon," said another source today.
Fullerton Financial Holdings, the Temasek unit, as quoted by Reuters today, did not elaborate on the name of the bidder in a statement but sources said the offer came from DBS, which is 29% owned by Temasek.
DBS, Southeast Asia's biggest bank, could not immediately be reached for comment. Danamon has requested a trading halt in its shares until April 2. 

Disclosure: No position at the stock mentioned above.

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