09 Aug 2019
Eastspring Investments (“Eastspring”), the Asian asset management business of Prudential plc (“Prudential”), has entered into a binding Memorandum of Understanding with Thanachart Bank (“TBANK”) to acquire a controlling stake in Thanachart Fund Management Co., Ltd. (“TFUND”)1 and expects to enter into a definitive agreement by the end of the year.
The proposed acquisition will be subject to local regulatory approvals2.
1 TFUND is the 9th largest asset manager in Thailand, with total assets under management (AUM) of THB 221.3 billion (USD 6.8 billion) as at 31 December 2018.
2 The acquisition of TFUND is also contingent on completion of the merger of TBANK and TMB Bank Public Company Limited.
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