SocGen in Talks to Sell 49% Stake in China Mutual Fund Venture Fortune SG -Reuters
September 07 2016 - 12:45PM
Dow Jones News
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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