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Article: SINGAPORE'S TEMASEK TO BUY 11.55% STAKE IN STANDARD CHARTERED.
- Article from:
- AsiaPulse News
- Article date:
- March 28, 2006
CopyrightCOPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SINGAPORE, March 28 Asia Pulse - Temasek Holdings, an Asian investment company headquartered in Singapore, has signed a deal to buy an 11.55 per cent stake in global bank Standard Chartered PLC from the estate of late business tycoon Tan Sri Khoo Teck Puat.
The Tan Sri Khoo Teck Puat Estate will sell 152,399,222 ordinary shares in Standard Chartered to Temasek's wholly owned subsidiary Dover Investments, Temasek said in a statement today.
The deal is said to be worth an estimated US$4 billion. Temasek, which already holds about 0.07 per cent of the ordinary shares of ...