Yudhoyono Hopes DBS/Danamon Deal Resolved Soon
Indonesian President Susilo Bambang Yudhoyono said he hoped the long-delayed bid by Singapore’s DBS Group Holdings for Bank Danamon can be resolved in the “very short term.”
Indonesia’s central bank, the final decider on the deal, said last week the year-old DBS bid to buy the Indonesian bank from Singapore state investor Temasek Holdings may get the go-ahead in May but that there were regulatory issues to resolve.
“I hope it will move forward,” Yudhoyono told a Thomson Reuters Newsmaker event in Singapore on Tuesday. But he added it must have benefits for all parties involved.
The $7.2 billion deal has been stuck, with Bank Indonesia capping ownership stakes in local banks and politicians calling for the Monetary Authority of Singapore (MAS) to grant greater access for Indonesian banks in Singapore in return.