JAKARTA: The largest bank in Southeast Asia based in Singapore DBS, today, Monday (02/04/2012) announced acquisitions amount U.S. $ 3.2 billion, equivalent to 68% of the total 6.45 billion shares of Asia Financial in Bank Danamon.
Announcement of the acquisition which is also the first big deal was made by the Chief Executive of DBS Group, Piyush Gupta.
Bank Danamon Indonesia was established in 1956 under the name PT Bank Kopra Indonesia. After two decades later, the bank's name changed to Bank Danamon Indonesia and became the first bank that pioneered the exchange of foreign currencies and stocks began to record since 1989.
In 1997, Danamon experienced liquidity problems and included in the supervision of Indonesia Bank Restructuring Agency (IBRA) as the bank is taken over (BTO), restructured and taken to a consortium of Asia Financial Indonesia in 2003 valued at U.S.$ 321 million, equivalent to Rp 3.08 trillion .
Asia Financial consortium controlled by Temasek Holdings Ltd through its subsidiary Financial Holdings Pte Ltd, while Temasek has a 29% stake in DBS. The entry of DBS to get rid of other enthusiasts, such as Bank of China to Standard Chartered. (*)
Announcement of the acquisition which is also the first big deal was made by the Chief Executive of DBS Group, Piyush Gupta.
Bank Danamon Indonesia was established in 1956 under the name PT Bank Kopra Indonesia. After two decades later, the bank's name changed to Bank Danamon Indonesia and became the first bank that pioneered the exchange of foreign currencies and stocks began to record since 1989.
In 1997, Danamon experienced liquidity problems and included in the supervision of Indonesia Bank Restructuring Agency (IBRA) as the bank is taken over (BTO), restructured and taken to a consortium of Asia Financial Indonesia in 2003 valued at U.S.$ 321 million, equivalent to Rp 3.08 trillion .
Asia Financial consortium controlled by Temasek Holdings Ltd through its subsidiary Financial Holdings Pte Ltd, while Temasek has a 29% stake in DBS. The entry of DBS to get rid of other enthusiasts, such as Bank of China to Standard Chartered. (*)
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