Biz Scene: Grapevine
China Daily | Updated: 2007-04-12 07:01
Fund purchase talks
French private bank La Compagnie Financiere Edmond de Rothschild Banque is in talks with a Chinese fund management company for a potential minority stake purchase, two sources familiar with the situation said on Wednesday.
LCF Edmond de Rothschild, one of the oldest private banks in Europe, has been in discussions with Shanghai-based Zhonghai Fund Management Co on a possible deal since last year, although no agreement has been signed yet, the sources said.
An investment arm of CNOOC Group, China's third-largest oil company, holds a nearly 47-percent stake in Zhonghai Fund.
(China Daily 04/12/2007 page15)
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