Japan’s MUFG to buy 73.8 percent stake in Indonesia’s Bank Danamon: Reuters

Japan’s Mitsubishi UFJ Financial Group Inc (8306.T) said on Tuesday it will buy a 73.8 pct stake in Indonesia’s Bank Danamon (BDMN.JK) from Singapore’s sovereign wealth fund Temasek Holdings.

MUFJ will carry out the transaction in three parts, with an initial acquisition of 19.9 percent stake in Danamon at 8,323 Indonesian rupiah per share for 15.875 trillion Indonesian rupiah ($1.17 billion), the company said.