Temasek looking at German acquisitions

Singapore state investor Temasek, one of the world's biggest investors, wants to make acquisitions in Germany, a top executive of the group told a German weekly newspaper. PHOTO: REUTERS

FRANKFURT (Reuters) - Singapore state investor Temasek, one of the world's biggest investors, wants to make acquisitions in Germany, a top executive of the group told a German weekly newspaper.

The sovereign wealth fund is being advised by Mr Michael Diekmann, former CEO of insurer Allianz, and Mr Franz Fehrenbach, supervisory board chairman at Bosch.

"We want to increasingly turn to Germany," Mr Tan Chong Lee, head of Temasek Europe, told Welt am Sonntag.

"We have already looked at companies in Berlin and Munich."

Mr Tan said Temasek's focus was on industrials but also companies in the consumer, technology, agricultural, pharma, biotech and services sectors, either listed or unlisted.

"We are also open to taking over companies completely jointly with a private equity group," he said, noting Temasek was not planning to take an overly proactive role, instead aiming for minority stakes and leaving business to management. "We don't want to restructure the companies or exchange management," he said.

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