Société Générale: sells 49% of Fortune SG.
(CercleFinance.com) - Société Générale has announced the sale of a 49% stake in Fortune SG, an asset management company in China, to Warburg Pincus.
Fortune SG was created in 2003 by Huabao Trust, a subsidiary of the Baosteel group, and by Société Générale.
Fortune offers a broad range of products and services, including listed national equity funds, foreign investment funds and wealth management in the form of managed securities accounts.
As at 30 June, 2017, assets managed by Fortune SG amounted to 122.5 billion RMB (15.7 billion euros).
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Fortune SG was created in 2003 by Huabao Trust, a subsidiary of the Baosteel group, and by Société Générale.
Fortune offers a broad range of products and services, including listed national equity funds, foreign investment funds and wealth management in the form of managed securities accounts.
As at 30 June, 2017, assets managed by Fortune SG amounted to 122.5 billion RMB (15.7 billion euros).
Copyright (c) 2017 CercleFinance.com. All rights reserved.