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Italy's Azimut agrees Taiwan jv to widen Asia footprint
June 27, 2013 / 11:47 AM / 4 years ago

Italy's Azimut agrees Taiwan jv to widen Asia footprint

MILAN, June 27 (Reuters) - Italian asset manager Azimut said on Thursday it had extended its footprint in Asia by signing a joint venture with An Ping Investment for the distribution of managed asset products in Taiwan.

In a statement Azimut, Italy’s leading independent asset manager, said it would buy 51 percent of An Ping’s capital from existing shareholders.

An Ping is a Taiwanese holding company that owns Sinopro Financial Planning Taiwan.

Azimut said it would invest around 3 million euros for the acquisition. (Reporting by Stephen Jewkes; editing by Francesca Landini)

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