Thanachart Bank, the sixth largest bank in Thailand by assets, is eyeing ING’s 31% stake in TMB Bank, according to a source familiar with the matter.
The Thai bank has been looking at the stake for a few months and is being advised by Citi, which also advised it on the sale of its insurance unit to UK insurer Prudential in 2012.
Thanachart Bank is 49% owned by Canada’s Bank of Nova Scotia, better known as Scotiabank, with the other 51% owned by Thanachart Capital, which is listed on the Thai Stock Exchange.
According to previous media reports, other lenders such as Mizuho...
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