HSBC Asset Management has bought a controlling stake in Taiwanese fund manager China Securities Investment Trust (CSIT), following a TW$3.3bn (US$103m) cash deal.
Under the terms of the deal, HSBC will acquire 52.87% of the asset manager from China Development Industrial Bank (CDIB). The deal values the business at approximately TWD6.5bn ($200m), and HSBC is...
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