Singapore’s UOB acquires 75% stake in Indonesia’s PG Asset Management

People sit outside a United Overseas Bank Ltd. (UOB) branch in Singapore, on Monday, Feb. 12, 2018. Photographer: Ore Huiying/Bloomberg

Singapore-based lender UOB, through its subsidiary UOB Asset Management (UOBAM), has acquired a 75 per cent stake in Indonesia’s PG Asset Management (PGAM) for S$2.25 million ($1.63 million), according to an official release.

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