SocGen to raise stake in Baosteel JV, SGAM Fortune, to 49 pct - report |
|
|
|
Published
:
Tue, 17 Apr 2007 08:30
|
PARIS (Thomson Financial) - Societe Generale wants to raise its stake in SGAM Fortune, the joint venture it created with China's Baosteel in 2003, to 49 pct from the current 33 pct, French daily La Tribune reported without citing sources.According to the paper, Societe Generale intends to raise its stake to the maximum limit authorised under Chinese regulations, that is 49 pct, and is now waiting for the green light from the Chinese regulatory authorities before going ahead with the deal.Societe Generale reported net asset inflows of 2 bln usd in China for the first three months, and regards itself as a pioneer in asset management in the region, the paper said.vicky.buffery@thomson.comvb/ambCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
|
|
|
|
Print this Story
China's Baosteel sees little impact from Indian iron ore price hike 