Chile’s Moneda Asset Management is reportedly planning to sell as much as 25% of the company to an international player.
Owners of the asset manager are currently evaluating an offer from a global investment bank that would involve a stake sale or forming a strategic alliance with an international partner, bnamericas.com has reported citing a report published by Chilean financial daily El Pulso.
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The analysis of the offer, which is reportedly in the preliminary stage, is expected to help Moneda gain better access to the sovereign bond and pension fund markets in Asia, Europe and North America.
Consorcio Financiero which owns about 16.5% stake in Moneda, and investor Raimundo Valenzuela which own about 6.5% of Moneda, are among the candidates expected to sell their stakes to a foreign buyer, the report said.
Moneda, which manages over $4.7bn in assets, caters to local and foreign institutional investors as well as private clients.
The firm’s management owns 76% stake in the firm, while it’s founding partner and chairman Pablo Echeverría holds the largest stake of 31.2%.
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