Prudential to Acquire TMB Asset Management

August 16, 2018

On July 25, 2018, Prudential announced an agreement to acquire TMB Asset Management.


Under the terms of the agreement, Prudential plc (“Prudential”) will acquire 65% of TMB Asset Management Co., Ltd. (“TMB”) through its Asian asset management business, Eastspring Investments (“Eastspring”) with an option to increase Eastspring’s ownership to 100% in the future. As part of the agreement, Eastspring has entered into a distribution agreement with TMB. The completion of the transaction is subject to local regulatory approval. Further terms of the deal were not disclosed.

Eastspring is an Asian asset management business with £139 billion in assets under management (as of December 31, 2017). Eastspring provides investment solutions across a broad range of asset classes, including equities, fixed income, multi-asset solutions, infrastructure and alternatives.

Prudential is a financial service group with £669 billion in assets under management (as of December 31, 2017).

TMB is a subsidiary of TMB Bank Public Company Limited, a bank in Thailand. It has THB 422 billion in assets under management (as of March 31, 2018).

To read the press release: please click here


Categories

Investment Manager M&A, Transactions