Temasek May Increase Merrill Stake

August 21st, 2008
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Temasek, one of Singapore's sovereign wealth funds, is looking to increase its investment in Merrill Lynch. After its $5 billion initial investment in December, Temasek said it would put in another $900 million last month in addition to the $2.5 billion reset payment it received to acquire more Merrill stock. A part of its investment would require regulatory approval because of the 10% limit for foreign investors. Both Temasek and GIC, Singapore's other sovereign wealth fund, plan to get into more banks as part of a long-term strategy extending up to 30 years.

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