ING to sell Thai investment house
Financial services group ING has reached agreement to sell its investment management business in Thailand to UOB Asset Management for €10m in cash.
The transaction, which is subject to regulatory approvals and is expected to close in the first half of 2013, will not affect ING’s other businesses in the region.
ING’s investment management business in Thailand manages almost €3bn in assets for local clients, the majority of which are third party, the bank said in a statement.
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