SocGen reducing China fund venture stake – sources
Friday, July 17, 2009 : PermalinkForbes – French bank Societe Generale (SocGen) plans to reduce its holdings in its China fund joint venture due to regulatory concerns after a global reorganisation, two people familiar with the situation said.
SocGen already owns a fund venture with a unit of Shanghai Baosteel Group, and will become an indirect stakeholder in Credit Agricole’s Chinese venture after the two banks complete a planned merger of their global asset management businesses.
Tags: bank-societe-generale, banks, baosteel group, china, credit agricole, forbes, french-bank, global asset management, joint-venture, merger, regulatory concerns, reorganisation, shanghai baosteel group, socgen, societe generale, stakeholder
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