Huatai eyes US corporate software company
By Reuters | China Daily | Updated: 2016-04-07 08:44
Huatai Securities Co Ltd is seeking to acquire US asset management software maker AssetMark Inc for as much as $800 million, according to people familiar with the matter, in the latest example of a Chinese company taking an interest in US businesses.
A deal for AssetMark could be the biggest Chinese investment in the US financial services sector since Anbang Insurance Group Co's $1.6 billion agreement in November to acquire Fidelity & Guaranty Life.
Huatai is facing competition from private equity firms for AssetMark, including a Chinese buyout firm, the people said this week.
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