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Interest is emerging around UOB Asset Management as its parent firm reviews options for the business.

Bloomberg reported that Amundi, KKR and Seviora are among firms exploring a potential investment in the unit.

A key issue in the discussions is how much of UOB’s distribution network in Southeast Asia would be included in any transaction.

The network provides asset managers with access to the bank’s retail and wealth clients across several regional markets, making it an important part of the deal structure.

People familiar with the matter said the bidders have submitted non-binding offers for the asset management business.

Discussions remain ongoing and there is no certainty a deal will be reached. Additional bidders could also emerge.

UOB said it does not comment on market speculation and remains focused on delivering long term value to shareholders while meeting evolving customer needs.

Amundi, KKR and Seviora declined to comment. Seviora operates as an asset management platform backed by Temasek Holdings.

The Singapore lender has been reviewing options for the business, including a potential sale, as part of a broader portfolio review.

Earlier reports suggested the unit could be valued at several hundred million US dollars.

Founded in 1986, UOB Asset Management oversees about US$41 billion in assets and operates in Singapore, Brunei, Indonesia, Japan, Malaysia, Taiwan, Thailand and Vietnam.

 

 

Featured image: Edited by Fintech News Singapore, based on image by UOB