KGI Group, the investment bank controlled by Taiwan's influential Koo family, expects to complete its present regional expansion by acquiring Singapore-based Sassoon Group.
Sassoon will be merged with KGI through a share swap and become a unit called KGI Sassoon.
After completion, Sassoon's existing shareholders, which include the Kuwait Investment Authority, will hold 12 per cent of the Taiwan-based company.
'The group's aggregated equity will then increase to US$870 million from US$770 million,' KGI chief operating officer Angelo Koo Jun-ynn said.
Sassoon chief executive George Teo Eng-kim said the firm had about 40,000 clients through its operations in Singapore, Hong Kong, Indonesia, Tokyo and London.
'We will be able to benefit from KGI Group's strength in capital, risk management and product development expertise,' Mr Teo said.
