Posted inSoutheast Asia

European firms eye deal for Thai asset manager

Binding offers are reportedly expected in the next few weeks.
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European fund manager Amundi and private equity firms CVC Capital Partners and TPG are among the shortlisted bidders for the asset management division of Thailand’s Kasikornbank (KBank).

The three companies are currently working with their financial advisers to weigh offers, according to Bloomberg.

A deal could include the purchase of a minority stake and a partnership with Kasikorn Asset Management.
KBank is expecting to receive binding bids in the next few weeks. The Thai bank is looking for a strategic partner to bolster its asset management platform and increase its competitiveness, and could also agree to sell a majority stake.

Amundi and TPG declined to comment when contacted by International Adviser, while CVC did not reply in time for publication.

IA was unable to contact KBank for a comment on the rumoured deal.

This story first appeared on our sister publication, International Adviser.

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