Business Activities News
- Everbright Bank buys fund firm stake
Date: 17-Apr-2007 Sources: (Shenzhen Daily)
CHINA Everbright Bank is poised to buy a 35 percent stake in the Shanghai-based fund management joint venture of U.S. insurer Prudential Financial, two sources close to the situation said yesterday.
Everbright Bank, which is 21 percent owned by Hong Kong-listed China Everbright Ltd., will buy the stake from China Everbright Group, which now holds a 67 percent stake of Everbright Pramerica Fund Management Co., the sources said. Beijing-based Everbright Group is the parent of financial service conglomerate China Everbright Ltd.
Sponsor Results:
