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.
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.
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.
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, 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.