Aberdeen gets approval to buy 80 pct of Indonesia's NISP Asset Management

(Adds confirmation, comment, details)

JAKARTA, Sept 23 (Reuters) - Aberdeen Asset Management PLC (Other OTC: ABDNF - news) 's Asian arm has received regulatory approval to buy 80 percent of Indonesia's PT NISP Asset Management, paving the way for the asset management firm to expand in Southeast Asia's largest economy.

Aberdeen Asset Management Asia has obtained the go-ahead from the Indonesian financial services authority, and the deal is expected to be closed in November, Aberdeen said in a statement on Tuesday. It did not disclose its offer price.

Aberdeen will acquire the 80 percent stake in NISP Asset Management from PT NISP Sekuritas, which is controlled by Indonesia's Surjaudaja family. The family founded Bank NISP that is now a subsidiary of Singapore's OCBC Bank (SES: E1:O39.SI - news) .

NISP Asset Management, which managed around 3.5 trillion rupiah ($292.6 million) as of February, will be renamed PT Aberdeen Asset Management after the acquisition.

"As part of the integration, we plan to add to the existing team, move to new offices and re-brand in the coming months," said Sigit Wiryadi, the head of NISP Asset Management who will continue his role.

As of June, Aberdeen managed $551.4 billion of assets globally, out of which $109.9 billion came from Asia.

(1 US dollar = 11,960.00 rupiah) (Reporting by Eveline Danubrata; Editing by Saeed Azhar, Pravin Char and Ryan Woo)