Ping An and Fortis to enter into a global asset management
partnership
Ping An intends to acquire a 50% stake in Fortis Investments
Fortis and Ping An Insurance (Group) Company of China, Ltd. ("Ping
An" or "Ping An Group") today jointly announced the signing of a
Memorandum of Understanding ("MOU") to form a global asset management
partnership. Ping An intends to acquire a 50% equity stake in Fortis
Investments*, the global asset management arm of Fortis, for a
consideration of EUR 2.15bn (RMB 24.02bn**). Through this
partnership, Ping An would significantly advance its strategy to
establish a global asset management business and a Qualified Domestic
Institutional Investor ("QDII") platform while Fortis would
significantly accelerate the development of its business in both
China and Asia Pacific.
Fortis
Press Contacts:
Brussels: +32 (0)2 565 35 84 Utrecht: +31 (0)30 226 32 19
Investor Relations :
Brussels : +32 (0)2 565 53 78 Utrecht : +31 (0)30 226 65 66
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