SCB X Public Company Limited (SET: SCB) has announced that the discussion for selling its asset management unit is in an early stage and there is no certainty the deal will go through.
Reference is made to the current news reports stating that SCB X Public Company Limited (SET: SCB) is in the process of considering options including a sale of SCB Asset Management Co., Ltd.
SCB has clarified that the company focuses on implementing the strategies and creating business opportunities to enhance value to customers and shareholders. Given the strategic importance of asset management, the company regularly evaluates strategic options, proposals, and opportunities which may involve consultation with external advisors. Such discussions are in early stages and there is no certainty or assurance that any such transactions may occur.
SCB stated that If any transaction occurs, it will disclose information as per the criteria of The Stock Exchange of Thailand in due course.
Last Friday, Bloomberg reported that SCB was considering options that include a sale of its asset management unit, SCB Asset Management Co., Ltd., (SCBAM), citing people familiar with the matter.
The report stated that the Thai bank has been speaking with financial advisers to explore a potential transaction for its asset management unit, which has a potential value of around $1 billion to $1.5 billion (approx. 36-54 billion baht).
SCB Asset Management has approximately 1.6 trillion assets under management.
