SINGAPORE, April 15 (Reuters) - Singapore state investor Temasek [TEM.UL] said on Tuesday it had exercised its option to buy an additional $600 million worth of shares in Merrill Lynch MER.N in February.
The additional purchase of 12.5 million Merrill shares at $48 each raised Temasek’s investment in the U.S. bank to $5 billion, a Temasek spokeswoman said.
Late last year, Temasek agreed to buy $4.4 billion worth of Merrill shares at $48 a share as the U.S. investment bank, hit by subprime mortgage losses, sought to raise capital.
Temasek had an option to buy an additional $600 million worth of shares by end-March. (Reporting by Saeed Azhar; Editing by Jean Yoon)