Prudential PLC (LON:PRU) has completed the acquisition of half of Thanachart Fund Management (TFUND) for US$137mln.
The transaction was done through the FTSE 100-listed firm’s Asian asset management business, Eastspring Investments.
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Eastpring now owns 50.1% of TFUND, which is a mutual fund manager based in Thailand, while Thanacart Bank Public Company owns the remaining 49.9%.
The life assurance and financial services company noted that Eastspring is now Thailand's fourth-largest asset manager, with a market share of 12% and assets under management of US$21.6bn.