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)