Alternative asset management firm Value Partners is
acquiring a 49% stake in mainland China asset management
company KBC Goldstate for Rmb 40.5 million, or about $6.4
million, boosting its bid to penetrate the huge Chinese market
for its various investment products.
It acquired the stake from KBC Asset Management after the
China Securities and Regulatory Commission approved the
transaction, turning the firm into the first indigenous Hong
Kong asset management firm to establish an asset management
joint venture in the mainland.