Aberdeen Asset Management has expanded its Taiwan business acquiring the business of a Hong Kong based investment firm.
Aberdeen Asset Management (Aberdeen) has agreed to acquire Value Partners Concord Asset Management (VPC) for an undisclosed sum. The deal is subject to regulatory approvals. Aberdeen has been operating in Taiwan since 2007.
The acquisition comes on the heels of Aberdeen receiving the go-ahead from shareholders to merge with its fellow U.K.-listed firm, Standard Life.
Asian Jobs Threat
As Standard Life Investments, the investment subsidiary, has no direct presence in Taiwan, the domestic U.K. purchase is not affected. News out of the United Kingdom suggests that the merger between Standard Life and Aberdeen will lead to 800 job cuts.
It is still unclear how the Asian operations will be affected, the Aberdeen-Standard Life transaction is expected to complete in mid-August.
