Reuters logo
Indonesian regulator confirms Japan’s MUFG eyeing Bank Danamon stake
November 10, 2017 / 2:48 AM / 8 days ago

Indonesian regulator confirms Japan’s MUFG eyeing Bank Danamon stake

JAKARTA (Reuters) - Indonesia’s financial services authority (OJK) confirmed on Friday that Mitsubishi UFJ Financial Group (MUFG) (8306.T) is interested in buying a stake in Bank Danamon Indonesia (BDMN.JK)

FILE PHOTO: Japan's national flag is seen behind the logo of Mitsubishi UFJ Financial Group Inc (MUFG) at its bank branch in Tokyo, Japan September 5, 2017. REUTERS/Kim Kyung-Hoon/File Photo

”Yesterday I called the bank’s management and contacted Temasek and indeed it’s MUFG that is looking at Danamon,” Heru Kristiyana, a commissioner at OJK, told reporters.

”It’s normal. What’s important is how we push them to make a real contribution to our economy,” Kristiyana said.

MUFG, through its core unit Bank of Tokyo-Mitsubishi UFJ, intends to buy Danamon shares worth around $1.75 billion (1.33 billion pounds) from Singapore state investor Temasek Holdings TEM.UL, a major shareholder, two sources told Reuters on Thursday.

Reporting by Hidayat Setiaji; Editing by Stephen Coates

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below