Business Recorder - Markets - Financial https://www.brecorder.com/ Business Recorder en-Us Copyright 2026 Sun, 16 Aug 2026 00:01:42 +0500 Sun, 16 Aug 2026 00:01:42 +0500 60 DANAMON RISES ON DBS TAKEOVER RUMOUR https://www.brecorder.com/news/1278/danamon-rises-on-dbs-takeover-rumour <p class="MsoPlainText"><img style="margin-right: 10px; margin-bottom: 10px; float: left;" alt="stocks_400" src="https://i.brecorder.com/images/stories/pics2010/dec/stocks_400.gif" width="400" height="266" />JAKARTA: Shares in Indonesia's sixth largest lender PT Bank Danamon  rose as much as 5.9 percent after market rumours that Southeast Asia's biggest lender DBS Group has signed a deal to buy a majority stake in the bank from Singapore state investor Temasek worth about $4 billion.</p> <p class="MsoPlainText">Temasek holds a 68 percent stake in Danamon and also owns 28 percent in DBS.Industry sources familiar with the companies told Reuters that no deal had been done, while DBS said in a statement that "any scenarios linking DBS to specific names are purely hypothetical and speculative".</p> <p class="MsoPlainText">CLSA said in a note on Friday that "it appears that this rumor has legs and that an acquisition is imminent".</p> <p class="MsoPlainText">Rumours swirling among brokerage houses in Jakarta were that DBS will acquire a Temasek stake at 6,500 rupiah a share and a tender offer will be made for the remaining shares of Danamon.</p> <p class="MsoPlainText">Danamon was trading at 6,200 rupiah by 0427 GMT, after a high of 6,250 rupiah.</p> <p class="MsoPlainText">Shares in Danamon, which has a market value of $5.4 billion, are up 8.8 percent so far this year, easily beating the broader market's 7 percent drop.</p> <p class="MsoNormal"><Center /><b><i>Copyright Reuters, 2011</b></i><br /></center></p> stocks_400JAKARTA: Shares in Indonesia's sixth largest lender PT Bank Danamon  rose as much as 5.9 percent after market rumours that Southeast Asia's biggest lender DBS Group has signed a deal to buy a majority stake in the bank from Singapore state investor Temasek worth about $4 billion.

Temasek holds a 68 percent stake in Danamon and also owns 28 percent in DBS.Industry sources familiar with the companies told Reuters that no deal had been done, while DBS said in a statement that "any scenarios linking DBS to specific names are purely hypothetical and speculative".

CLSA said in a note on Friday that "it appears that this rumor has legs and that an acquisition is imminent".

Rumours swirling among brokerage houses in Jakarta were that DBS will acquire a Temasek stake at 6,500 rupiah a share and a tender offer will be made for the remaining shares of Danamon.

Danamon was trading at 6,200 rupiah by 0427 GMT, after a high of 6,250 rupiah.

Shares in Danamon, which has a market value of $5.4 billion, are up 8.8 percent so far this year, easily beating the broader market's 7 percent drop.

Copyright Reuters, 2011

]]> Markets https://www.brecorder.com/news/1278 Wed, 26 Jan 2011 10:13:12 +0500 none@none.com (Abdul Ahad)