Prudential's Asia business to buy subsidiary of Thailand's Thanachart Bank

By Michele Maatouk

Date: Friday 09 Aug 2019

(Sharecast News) - Prudential's Asian asset management business, Eastpring Investments, has entered into a binding memorandum of understanding to buy a controlling stake in Thailand's Thanachart Fund Management Co.
The company said on Friday that it expects to enter into a definitive agreement by the end of the year.

It added that the proposed acquisition will be subject to local regulatory approvals.

Thanachart Fund Management is a subsidiary of one of the largest banks in Thailand, Thanachart Bank Public Co Ltd.

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