European Largest Fund Manager “Amundi SA” Eyes KBANK’s Asset Management Business

Top international firms showed interest in partnering with Thailand’s Kasikornbank Public Company Limited (SET: KBANK) through the purchase of its asset management business, according to the report by Bloomberg who cited a source familiar with the matter.

Europe’s largest fund manager Amundi SA, a private equity and investment advisory firm CVC Capital Partners and an American investment company are among shortlisted bidders for a stake in Kasikorn Asset Management Company Limited.

Bloomberg wrote that bidders are discussing with their respective financial advisers as the deal could involve a potential minority stake purchase and a partnership with Kasikorn Asset Management Co., Ltd.

Still, the source noted that KBANK is still weighing options including selling a minority or majority stake.

The decision is not final and bidders could still decide to pull back on the deal, the source said.