Announced
Financials
Sources
Tags
Private
China
asset management
Pending
Acquisition
Single Bidder
Asset Managers and Custodians
Minority
Friendly
Private Equity
Synopsis
JP Morgan agreed to acquire the remaining 49% stake in China International Fund Management, its joint venture company with Shanghai International Trust, an investment company, for c. $1bn. "As we advance our onshore business in this critically important market, we look forward to continuing to meet the evolving needs of Chinese and international investors," Paul Bateman, JP Morgan Asset Management Chairman.
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