Amundi, Buyout Firms Vie for KBank Asset Manager, Sources Say
- Bidders working with financial advisers as they weigh offers
- Binding bids for stake due as early as in the next few weeks
This article is for subscribers only.
Europe’s largest fund manager Amundi SA and global buyout firms CVC Capital Partners and TPG Inc. are among shortlisted bidders for a stake in the asset management business of Thai lender Kasikornbank Pcl, according to people familiar with the matter.
The private equity firms and Paris-based Amundi are working with their respective financial advisers as they weigh offers, the people said, asking not to be identified because the matter is private. A deal could involve a potential minority stake purchase and a partnership with Kasikorn Asset Management Co., the people said. KBank, as the Bangkok-based lender is known, is expecting to receive binding bids as early as in the next few weeks, they added.