atans1

Ho Ching doesn’t rest

In Banks, Indonesia, Temasek on 27/12/2017 at 8:47 am

PM and wife may be on hols but MUFG and Temasek have just done a deal that hopefully (Indon regulators willing) would see the Japanese bank acquiring a 73.8% stake in Bank Danamon from its largest existing shareholder, Temasek (Temasek wants to be rid of it’s stake after the Indons blocked a merger with DBS Indonesia.)

the Japanese bank will buy 19.9 percent from Singapore state investor Temasek Holdings [TEM.UL] for 15.875 trillion rupiah ($1.17 billion), a deal it expected to close within a few days.

MUFG will then raise the stake to 40 percent, pending regulatory approval, between the second and third quarters of 2018.

MUFG said after that, it sought approval to hold at least 73.8 percent in Indonesia’s fifth-largest bank by offering to buy out other shareholders in addition to acquiring shares from Temasek.

https://www.reuters.com/article/us-mufg-m-a-bank-danamon/japans-mufg-seeks-majority-of-indonesias-bank-danamon-idUSKBN1EK11H

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  1. wikipedia – The Japanese Empire occupied the Dutch East Indies, now Indonesia, during World War II from March 1942 until after the end of the War in 1945.

    The Japanese occupation was initially greeted with optimistic enthusiasm by Indonesians who came to meet the Japanese army waving flags and shouting support such as “Japan is our older brother” and “banzai Dai Nippon”. As the Japanese advanced, rebellious Indonesians in virtually every part of the archipelago killed groups of Europeans (particularly the Dutch) and informed the Japanese reliably on the whereabouts of larger groups.

  2. […] – Thoughts of a Cynical Investor: Ho Ching doesn’t rest […]

    • actually she said she wanted to retire long ago, and in 2009 actually was grooming an american called chip goodyear to take over as ceo; then mysteriously, the guy decided to leave, because the two sides thought it best …

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