July 29, 2008 / 12:38 AM / 10 years ago

Singapore's Temasek confirms investment in Merrill

SINGAPORE, July 29 (Reuters) - Singapore state investor Temasek Holdings [TEM.UL] said on Tuesday it had increased its investment in Merrill Lynch MER.N as part of the U.S. broker’s latest fund-raising effort.

“Temasek confirms its commitment of $3.4 billion in the public offering by Merrill Lynch, a portion of which is subject to regulatory approval,” spokewoman Myrna Thomas said in a statement.

“The commitment includes a sum of $2.5 billion arising from a re-set payment which Merrill Lynch has agreed to pay to Temasek as an adjustment to the price of Temasek’s original investment made in December 2007,” she added. (Reporting by Saeed Azhar; Writing by Kevin Lim; Editing by Anshuman Daga)

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