ING to Sell Investment Management Business in Thailand to UOB

November 23, 2012

On November 20, 2012, ING announced that it will sell its investment management business in Thailand to UOB Asset Management Ltd for total cash consideration of €10 million.


On November 20, 2012, ING announced that it will sell its investment management business in Thailand to UOB Asset Management Ltd for total cash consideration of €10 million, subject to regulatory approval.  ING’s investment management business in Thailand has approximately €2.9 billion of assets under management and is one of the top three foreign fund management houses in Thailand.  UOB Asset Management is a subsidiary of United Overseas Bank Ltd, with operations in Singapore, Malaysia and Thailand, and has approximately €25 billion of assets under management.  The terms of the transaction were not disclosed.

To read the press release, please click here.


Categories

Investment Manager M&A, Transactions