ing-buys-domestic-taiwan-asset-management-business-from-abn-amro

ING buys domestic Taiwan asset management business from ABN Amro

Merged entity will have $13.7 billion of assets under management and will strengthen ING's leading market position in Taiwan, while ABN will focus on its offshore business.
In a move that will cement its position as the countryÆs largest overall asset management firm, ING Group has agreed to buy ABN Amro Asset ManagementÆs domestic business in Taiwan for up to Ç68 million $86 million.

The deal is still subject to regulatory approval and the final price may be adjusted at the time the deal closes.

The acquisition is seen as a good fit that will complement INGÆs existing domestic asset management operation in Taiwan both in terms of products and distribution channels since the two Dutch firms have been focusing on different segments of the market, ING said.

ABN AmroÆs business, which has Ç2.9 billion of assets under management AUM...
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