European fund manager Amundi and private equity firms CVC Capital Partners and TPG are among the shortlisted bidders for the asset management division of Thailand’s Kasikornbank (KBank).
The three companies are currently working with their financial advisers to weigh offers, according to Bloomberg.
A deal could include the purchase of a minority stake and a partnership with Kasikorn Asset Management.
KBank is expecting to receive binding bids in the next few weeks. The Thai bank is looking for a strategic partner to bolster its asset management platform and increase its competitiveness, and could also agree to sell a majority stake.
Amundi, CVC and TPG declined to comment when contacted by International Adviser.
IA was unable to contact KBank for a comment on the rumoured deal.
