Bisnis.com, JAKARTA— Several banking consortiums, including Asia Finance Indonesia Private Limited (Temasek Holdings-Deutsche Bank AG), Bank Artha Graha-Gudang Garam, and PT Bhakti Capital Indonesia-Bank Mega, were shortlisted as investors in the 51% share divestment of Bank Danamon.
Before the divestment, Bank Danamon was taken over by the government following the 1998 Asian financial crisis. According to a Bisnis Indonesia report from 22 March 2003, the bank was still under the supervision of the Indonesian Bank Restructuring Agency (IBRA). Its status as a Bank Taken Over (BTO) was a direct consequence of the financial turmoil at the time.
