Prudential Plc: Eastspring To Acquire Stake In TFUND, Thailand - Quick Facts

(RTTNews) - Eastspring Investments, the Asian asset management business of Prudential plc (PRU.L, PUK), has agreed to acquire 50.1 percent of Thanachart Fund Management Co. or TFUND from Thanachart Bank Public Company and Government Savings Bank. TFUND is a mutual fund manager in Thailand with 5.4 billion pounds of mutual funds under management. The consideration for the deal is 108 million pounds. Eastspring has an option to increase ownership of TFUND to 100 percent in the future.

"Following the demerger of the Group's UK and Europe business, M&G Prudential, Prudential plc will become Asia-led, which means we will be even more focused on meeting the insurance and savings needs of Asian consumers," Nic Nicandrou, Chief Executive of Prudential Corporation Asia, said.