Sumitomo Mitsui Trust Holdings (TYO:8309) unit Amova Asset Management will acquire the remaining shares in Malaysia's AHAM Asset Management, lifting its stake to as much as 100% from 20% and making the firm a consolidated subsidiary, according to a Tuesday company statement.
Amova said the deal would strengthen its investment platform in Southeast Asia, expand Shariah-compliant investment capabilities and deepen connectivity between Asian and global markets.
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