Fortis sells ABN Amro Teda stake to Old Mutual
The sale will be made to comply with regulations. Fortis had to sell one of its asset management companies in China and opted to keep Fortis Haitong.
Old Mutual has agreed to buy a 49% stake in ABN Amro Teda Fund Management from Fortis Bank for around Ç165 million ($244 million) in cash.Old Mutual is an international savings and wealth management company based in the UK. Fortis is a Belgian-Dutch international provider of banking and insurance services to personal, business and institutional customers. ABN Amro Teda Fund Management is a major asset management company in China that was founded in 2002. It is 49% owned by ABN Amro As…
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