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