32
Société Générale SA (GLE.FR, SCGLY) is in talks to sell its 49% stake in China-based mutual fund business Fortune SG Fund Management Co. to Warburg Pincus LLC, Reuters reported on Wednesday.
Fortune SG was formed in 2003 as a joint venture with Baosteel Group Corp. BSTL According to the Reuters report, it had 157.5 billion yuan ($23.6 billion) in assets under management at the end of June.
Source: MarketWatch
