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Manulife buys into Chinese asset management JV
November 24, 2009
The Hong Kong-based asset management arm of Manulife agrees to pay US$157 million for Fortis Bank’s 49% stake in Chinese fund management firm Teda. It is striving to fast-track entry into one of the world’s most promising markets.
Manulife Asset Management (Hong Kong) signed a deal today (November 24) to buy a 49% stake in a Chinese fund management firm for €105 million (US$157 million).
The subsidiary of Manulife International Holdings is striving to gain fast-track entry...
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