Talks are ongoing and no final decisions have been made, the people said, adding that a transaction might not materialize, while other parties could also make a bid.
A spokesperson for UOB said the bank doesn’t comment on market rumours or speculation. UOB is focused on delivering long-term value to shareholders and meeting the evolving needs of customers, the spokesperson said.
Amundi, Seviora, Temasek and KKR declined to comment.
UOB has been exploring options for its asset management arm, including a possible sale, as the Singaporean lender seeks to streamline its portfolio, people familiar with the matter said in December. A transaction may value UOB’s asset management business at several hundred million dollars, some of the people have said.
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Established in 1986, the wholly owned UOB subsidiary had about $41 billion of assets under management as of the end of November. In addition to Singapore, the asset manager has a presence in Brunei, Indonesia, Japan, Malaysia, Taiwan, Thailand and Vietnam.
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