Mitsubishi UFJ Financial Group, a commercial banking entity, completed a 94.1% acquisition of Bank Danamon Indonesia, provider of banking products and services to retail, small and medium enterprise, and commercial customers, from Fullerton Financial Holdings, a wholly-owned portfolio company of Temasek Holdings, for £4.5bn. This strategic investment by MUFG was executed through three steps. Merger between Bank Danamon and Bank BNP in £2.7bn deal was as part of the last step of the proposed transaction outlined. “We are confident that MUFG coming in as a shareholder of Danamon is beneficial to the company’s stakeholders, including its employees, clients and customers, as well as business partners. With deep banking expertise and international experience, we believe MUFG is the right partner for Danamon as they embark on their next phase of growth. Since 2003, we have been a shareholder in Danamon and will continue to be supportive of them. We remain invested in the company and look forward to working closely with MUFG during this period. Indonesia is a dynamic market and we continue to be optimistic about its growth and long term potential, as well as that of its financial services sector,” Tow Heng Tan, Fullerton Financial Holdings Director.