DBS and FHH extend long-stop date on Bank Danamon stake sale

Extended till August 1 this year.

In a Singapore Exchange update of its ongoing Bank Danamon acquisition transaction, DBS Group Holdings Ltd (DBS) said its the conditional share purchase agreement with Fullerton Financial Holdings Pte. Ltd (FFH) to acquire 100% of its wholly-owned subsidiary Asia Financial (Indonesia) Pte Ltd which holds a 67.37% stake in PT Bank Danamon Indonesia Tbk has a long-stop date of 2 June 2013, which has been extended until 1 August 2013.

DBS said that after which the share purchase agreement will lapse unless both parties mutually agree to a further extension. DBS added that it will make further announcements when there are significant developments on the transaction.