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Freshfields advises Prudential and Eastspring Investments on its market entry into Thailand via TMB Asset Management acquisition

Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Prudential and Eastspring Investments (‘Eastspring’), Prudential’s Asia asset management division, on its proposed acquisition of an initial 65 per cent  stake in TMB Asset Management Co., Ltd (‘TMB Asset Management’), with an option to increase its ownership to 100 per cent in the future.

TMB Asset Management is the Thailand-based asset management division of TMB Bank (formerly known as Thai Military Bank) and the fifth-largest asset manager in Thailand. It manages equity, fixed income, balanced mutual funds and hedge funds for its clients and invests in the public equity, fixed income, and real estate markets across the globe with assets under management of approximately THB 440bn (US$13.2bn).

This acquisition marks Eastspring’s entry into the mutual fund market in Thailand, one of the largest and fastest growing mutual fund markets in the ASEAN region. The move expands Eastspring’s presence to 11 markets in Asia. The deal is subject to Thai regulatory approvals.

The Freshfields team advising on the deal is being led by partner and co-head of global M&A Robert Ashworth. Partner Peter Clements is advising on tax matters.


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