Temasek Holdings Pte, Singapore’s state-owned investment company, is in advanced talks to purchase a strategic stake in A.S. Watson & Co., the retail arm of Hutchison Whampoa Ltd., the Wall Street Journal reported.
Temasek Holdings Pte unit’s offer to take over Olam International Ltd. shows Singapore’s investment firm is more active compared with other state-owned investors, according to the Sovereign Investment Lab.
DBS Group Holdings Ltd., which bid to acquire PT Bank Danamon Indonesia last year, extended a deadline to complete the deal with Temasek Holdings Pte by two months as the sale awaits approval from Indonesian regulators.
Temasek Holdings Pte., Singapore’s state-owned investment company, sold $2.48 billion of shares in Bank of China Ltd. and China Construction Bank Corp. less than a month after investing in their larger rival.
Olam International Ltd., the commodity supplier targeted by short-seller Carson Block, raised $712.5 million from a 10 percent-oversubscribed bond sale, which was backed by its two largest shareholders.