Société Générale SA (GLE.FR, SCGLY) is in talks to sell its 49% stake in China-based mutual fund business Fortune SG Fund Management Co. to Warburg Pincus LLC, Reuters reported Wednesday.

Fortune SG was formed in 2003 as a joint venture with Baosteel Group Corp. (BSTL.YY). According to the Reuters report, it had 157.5 billion yuan ($23.6 billion) in assets under management at the end of June.

Full story at http://www.reuters.com/article/us-socgen-china-fund-idUSKCN11D1OL

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(END) Dow Jones Newswires

September 07, 2016 12:30 ET (16:30 GMT)

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