Magazine date:
Apr 2008 The Chinese giant Ping An Insurance, whose net profits doubled in the course of the 2007 financial year at 18.7 billion CYN (2.5 billion USD), has started talks for the takeover of a 50% stake in the capital of the Belgian-Dutch group Fortis Investment Management NV. The transaction is said to amount to 3.35 billion USD.
Ping An which has already acquired in November 2007 4.18% of Fortis stakes for the sum of 2.8 billion USD has become its major shareholder.