Allianz Global Investors (AllianzGI), through its subsidiary Allianz Global Investors Asia Pacific, has agreed to acquire PT RHB Asset Management Indonesia (RHBAMI) from RHB Banking Group.
According to AllianzGI, the transaction, the value of which was not disclosed, will reinforce its established presence in Asia, especially in Southeast Asia and the fast-growing Indonesian market. The deal is expected to be concluded in the fourth quarter of this year, subject to approval by Indonesian financial regulator OJK.
RHBAMI has assets under management of over US$380 million (SG$653 million). It offers asset management products and services such as mutual fund units in