Eastspring Investments has finalized the acquisition of a 65% stake in TMB Asset Management, enhancing its market position in Thailand's growing asset management sector.

Information on the Target

Eastspring Investments, the Asian asset management division of Prudential plc, has successfully completed its acquisition of a 65 percent stake in TMB Asset Management Co., Ltd (TMBAM) from TMB Bank Public Company Limited. This strategic move marks Eastspring's undertaking to strengthen its presence in one of Asia's rapidly growing financial markets by leveraging TMBAM’s established market position, which is currently recognized as Thailand's fifth largest asset manager, with approximately £10 billion in assets under management.

The acquisition aligns with Eastspring's vision of expanding its outreach and offering enhanced investment solutions to local clients. Following this agreement, Eastspring has the option to increase its stake to 100 percent, solidifying a robust partnership aimed at enhancing services and products available to customers of TMB Bank, Thailand’s seventh largest bank by assets.

Industry Overview in Thailand

Thailand's financial sector has consistently demonstrated further resilience and growth potential, particularly within the asset management industry. The Thai market for asset management has seen significant development, driven by a burgeoning