Amundi, KKR, and Seviora are among bidders for UOB Asset Management, the investment management subsidiary of United Overseas Bank, according to sources cited by Bloomberg.

The parties have submitted non-binding offers to invest in the business, according to people familiar with the matter. Negotiations are focusing on whether any transaction would include access to UOB’s regional distribution network, which spans Southeast Asia.

UOB has been reviewing strategic options for the unit as part of efforts to streamline its portfolio and focus on core banking operations.

Established in 1986, UOB Asset Management oversees around S$41bn, equivalent to roughly $32bn, in assets under management. The firm operates across several Asian markets, including Singapore, Brunei, Indonesia, Japan, Malaysia, Taiwan, Thailand, and Vietnam.

A potential transaction could value the asset manager at several hundred million dollars, though discussions remain ongoing and may not lead to a deal.

The process highlights continued investor interest in Asian asset management platforms, particularly those with strong regional distribution capabilities.

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