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.

Comment on this article

 

Your comments will not be published. Required fields are marked *

 

Please enter the word you see in the image below:


Subscribe

Subscribe to our mailing list

Sign up now to keep up-to-date with the latest
market news and insights in B2B banking.

* indicates required

For more information please read our Terms and Conditions and Privacy Statements.