MUFG to Acquire 73.8% Stake in Bank Danamon

Mitsubishi UFJ Financial Group (MUFG) agreed to buy an initial USD1.2bn stake in PT Bank Danamon, Tbk (BDMN IJ), to achieve 19.9% stake in the local bank. The Japanese bank reached an agreement with Temasek Holdings Pte and units affiliated with Singapore’s state investor. The deal values Danamon shares at IDR8,323 per share, 39% more than their latest closing price. Furthermore, MUFG will acquire another 20.1%To subscribe please click here