Thai Kiatnakin Bank purchases 60% of Siam City Asset Management

June 20, 2011

On June 15, 2011, Thai Kiatnakin Bank Plc entered into a share purchase agreement with Thailand’s Government Pension Fund to acquire 60% of Siam City Asset Management for 234 million baht.

On June 15, 2011, Thai Kiatnakin Bank Plc entered into an agreement to acquire 60% of Siam City Asset Management from Thailand’s Government Pension Fund.  Kiatnakin Bank will pay consideration of 234 million baht, the equivalent of approximately U.S. $7,654,600, and will become Siam City’s majority shareholder.  Siam City, which plans to change its name upon completion of the agreement, currently has assets under management of approximately 25 billion baht.  The agreement is conditional upon approval from governmental authorities

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Investment Manager M&A, Transactions