Banking News

Temasek/Deutsche consortium wins bid for Bank Danamon

Temasek/Deutsche consortium wins bid for Bank Danamon

(Indonesia) – A consortium led by the investment arm of the Singapore Government – Temasek – has been named preferred bidder for a controlling stake in Indonesia’s fifth largest bank, Bank Danamon. The Indonesian Bank Restructuring Agency (IBRA) announced the consortium’s offer price was 1202 rupiah per share, equivalent to US$347 million for 51 percent of the bank.

This is slightly less than the US$400 million IBRA had hoped for.

Temasek’s main bidding partner is Deutsche Bank.

The unsuccessful bidder was a consortium consisting of Indonesian firms Bhakti Capital Indonesia and Bank Mega.

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