Singapore's overseas acquisitions in Indonesia reaches a record high of US$9.4b

This is because of DBS' acquisition of Bank Danamon that reached US$7.4b.

Here's more from Thomson Reuters:

Overseas acquisitions from Singapore reached US$15.3 billion so far this year, an increase of 11.1% over the first nine months of 2011, and is the highest year-to-date period for Singapore outbound M&A since 2007 (US$26.9 billion).

Third quarter deal value (US$2.4 billion) went down 74.9% from the second quarter of 2012 (US$9.6 billion), while deal count dropped 7.9% to 70 announced transactions from 76. This is the slowest quarter for Singapore outbound M&A since second quarter of 2009 (55 announced deals).

DBS Group Holdings agreed to acquire a 67.4% interest in Indonesia’s Bank Danamon in a deal worth US$4.97 billion alongside an announced mandatory tender offer to acquire the remaining 32.6% stake for US$2.4 billion. With the combined value of these two bids reaching US$7.4 billion, Singapore’s overseas acquisitions in Indonesia reached a record high of US$9.4 billion, or 61.7% of the outbound activity.

However, China saw the most number of acquisitions from Singapore with 32 deals, a 50.8% drop from the comparative period last year. Outbound acquisitions in the Financials industry (54.3%) with US$8.3 billion grew seven-times compared to the first nine months of 2011.

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