Based on media reports, DBS has offered to acquire the 68 percent stake in Bank Danamon worth about US$3.2 billion from Fullerton Financial Holdings, a unit of Singapore investment firm Temasek Holdings.
Temasek also holds a 29 percent stake in DBS.
A Fullerton Financial Holdings spokesperson confirmed that "it has received an offer for its stake in Asia Financial (Indonesia), which holds shares in Bank Danamon".
DBS has declined to comment.
ORIGINAL SOURCE
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