Press release from CNW Group
Power Corporation of Canada finalizes the purchase of a 10% stake in China Asset Management Co. Ltd.
Wednesday, December 28, 2011
Power Corporation of Canada finalizes the purchase of a 10% stake in China Asset Management Co. Ltd.07:56 EST Wednesday, December 28, 2011MONTREAL, Dec. 28, 2011 /CNW Telbec/ - Power Corporation announced today that it has finalized the purchase of a 10% stake of China Asset Management Co. Ltd. (China AMC) from its current owner, CITIC Securities Co. Ltd. This transaction was announced on August 11, 2011.China AMC was established in 1998 and was one of the first asset management companies approved by the China Securities Regulatory Commission. It is recognized as the leading company in the Chinese asset management sector.Power Corporation of Canada is a diversified international management and holding company with interests in companies in the financial services, communications and other business sectors in North America, Europe and Asia.For further information: Mr. Edward Johnson Senior Vice-President, General Counsel and Secretary 514-286-7400