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Allianz Global Investors is owned by German insurer Allianz SE, which also owns bond manager Pacific Investment Management Co. (AFP pic)
\nSINGAPORE: Allianz Global Investors (AllianzGI) is in exclusive talks to buy the asset management division of Singapore\u2019s United Overseas Bank Ltd, according to people familiar with the matter.<\/p>\n
AllianzGI outbid rivals to emerge as the likeliest buyer of UOB Asset Management Ltd, and the details are being finalised on a transaction that could be valued at up to S$600 million (US$467 million), the people said, asking not to be identified because the discussions are private.<\/p>\n
Talks are ongoing and no final decisions have been made, the people said.<\/p>\n
A representative for AllianzGI declined to comment.<\/p>\n
UOB said it is focused on delivering long-term value for shareholders and meeting the customer needs, but declined to comment further.<\/p>\n
UOB has been exploring options for its asset management arm, including a possible sale, to streamline its portfolio, people familiar with the matter said in December.<\/p>\n
Amundi SA, KKR & Co and Temasek Holdings Pte Ltd\u2019s Seviora were also among bidders for the unit.<\/p>\n
\u201cA key point was how much of UOB\u2019s distribution network in Southeast Asia would be included,\u201d the people have said.<\/p>\n
Established in 1986, the wholly owned UOB subsidiary has more than S$41 billion of assets under management.<\/p>\n
In addition to Singapore, it has offices in Brunei, Indonesia, Japan, Malaysia, Thailand and Vietnam.<\/p>\n
AllianzGI had almost \u20ac600 billion (US$697 billion) in assets under management as of the end of March.<\/p>\n
That included equity, fixed income, private market and multi-asset strategies.<\/p>\n
The company is owned by German insurer Allianz SE, which also owns bond manager Pacific Investment Management Co.<\/p>\n","protected":false},"excerpt":{"rendered":"Allianz Global Investors is owned by German insurer Allianz SE, which also owns bond manager Pacific Investment Management…\n","protected":false},"author":2,"featured_media":31009,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20948],"tags":[1057,20949,21853,53,627,29897,29898,29899],"class_list":["post-31008","post","type-post","status-publish","format-standard","has-post-thumbnail","category-allianz","tag-acquisition","tag-allianz","tag-allianz-se","tag-banks","tag-singapore","tag-stake","tag-uob","tag-uob-asset-management-ltd"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/31008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/comments?post=31008"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/31008\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media\/31009"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media?parent=31008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/categories?post=31008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/tags?post=31008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}