AllianzGI Nears S$600 Million UOB Asset Management Deal After Outbidding Rivals
Updated
Updated · Bloomberg · Jun 5
AllianzGI Nears S$600 Million UOB Asset Management Deal After Outbidding Rivals
1 articles · Updated · Bloomberg · Jun 5
Summary
Exclusive talks have put Allianz Global Investors in position to buy UOB Asset Management in a deal that could be worth up to S$600 million ($467 million).
AllianzGI emerged as the likeliest buyer after outbidding rival suitors, according to people familiar with the matter.
The negotiations are now focused on finalizing transaction details for the asset-management unit of Singapore's United Overseas Bank.
If completed, the acquisition would expand AllianzGI's presence in Asian asset management through a Singapore-based business.