DBS Group Holdings Ltd. got approval from Indonesia’s central bank to acquire a $2.75 billion stake in PT Bank Danamon Indonesia, giving Southeast Asia’s largest lender less control than it had sought.
Temasek Holdings Pte, Singapore’s state-owned investment company, boosted its stake in Industrial & Commercial Bank of China Ltd. for the third time in a year as Goldman Sachs Group Inc. exited its seven-year-old investment.
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.
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.
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.
PT Bank Danamon Indonesia is trading at the biggest discount to any pending takeover offer in Asia, signaling arbitragers aren’t convinced that Singapore and Jakarta will resolve differences over bank access anytime soon.