JPMorgan Chase told to pay $1bn in China fund expansion plans - reports
Set to purchase remainder of China International Fund Management
The bank has agreed to buy Shanghai International Trust's 49% stake in China International Fund Management
JPMorgan Chase will need to pay at least $1bn to proceed with the buyout of the remaining share of its Chinese mutual fund business, according to a Shanghai United Assets and Equity Exchange statement yesterday (25 August).
The bank has agreed to buy its business partner in the country Shanghai International Trust's 49% stake in China International Fund Management at a price representing a 150bn yuan, according to Bloomberg....
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