Published Thu, Mar 5, 2026 · 06:37 PM
[SINGAPORE] Amundi, KKR and Temasek Holdings’ Seviora unit are bidding for United Overseas Bank’s asset management arm, according to people familiar with the matter.
The three have submitted non-binding offers to invest in UOB Asset Management, the people said, asking not to be identified because the information is private.
A key aspect of the negotiations is how much of its distribution network in South-east Asia UOB is willing to include, two of the people said.
Talks are ongoing and no final decisions have been made, the people revealed, adding that a transaction might not materialise, while other parties could also make a bid.
A spokesperson for UOB said that the bank does not comment on market rumours or speculation. UOB is focused on delivering long-term value to shareholders and meeting the evolving needs of customers, the spokesperson said.
Seviora, Temasek and KKR declined to comment, while Amundi did not respond to requests seeking comment.
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UOB has been exploring options for its asset management arm, including a possible sale, as the lender seeks to streamline its portfolio, people familiar with the matter said in December. A transaction may value UOB’s asset management business at several hundred million dollars, some of the people have said.
Established in 1986, the wholly owned UOB subsidiary had about S$41 billion of assets under management as of the end of November. In addition to Singapore, the asset manager has a presence in Brunei, Indonesia, Japan, Malaysia, Taiwan, Thailand and Vietnam. BLOOMBERG
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