Singapore DBS, Temasek extend agreement on Danamon

DBS Group, Southeast Asia’s biggest bank, has extended its agreement with Temasek Holdings to buy the Singapore state investor’s controlling stake in Indonesia’s PT Bank Danamon Indonesia Tbk for two more months.

DBS said in a statement on Monday the “long-stop date”, or last date for the agreement, has been extended until August 1, after which the share purchase agreement will lapse unless both parties mutually agree to a further extension.

via Business feed http://www.scmp.com/business/companies/article/1252467/singapore-dbs-temasek-extend-agreement-danamon