LONDON (dpa-AFX) - Eastspring Investments, the Asian asset management business of Prudential plc (PRU.L), has reached an agreement to initially acquire 65 per cent of TMB Asset Management Co., Ltd. or 'TMBAM', asset management company in Thailand, from TMB Bank Public Company Limited or 'TMB'.
Eastspring has an option to increase its ownership to 100 per cent in the future. As part of this acquisition, Eastspring has also entered into a distribution agreement with TMB to provide best-in-class investment solutions to their customers.
The acquisition of TMBAM, the fifth-largest asset manager in Thailand, with £10 billion[2] of assets under management which has grown by a market leading 26 per cent compound annual growth rate over the last three years, reinforces Prudential's commitment to the Thai market.
Copyright RTT News/dpa-AFX