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Singapore's DBS bank divests China investment unit

Tue Mar 4, 2008 11:48pm EST

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SINGAPORE, March 5 (Reuters) - Singapore's DBS Group (DBSM.SI) said on Wednesday that it has sold its wholly owned subsidiary DBS (China) Investment Co to privately held Edgefield Investments for $32 million.

The company was set up in Beijing in December 2005, as an investment company with a registered capital of $30 million, DBS said in a statement. DBS, Southeast Asia's top lender, said the disposal is not material in the context of its operations.

(Reporting by Daryl Loo, editing by Neil Chatterjee)



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