Manulife Financial Corp. (MFC) announced that it has signed an agreement to purchase Fortis Bank SA/NV's 49% ownership in ABN AMRO TEDA Fund Management Co., Ltd. for cash purchase consideration of EUR105 million or US$156 million.
The company said that the acquisition is expected to be accretive to Manulife Financial earnings in the first year and have a negligible impact on capital levels. The agreement is subject to regulatory approval and is expected to close in the first quarter of 2010.
The new joint venture, which will be called Manulife TEDA Fund Management Company Ltd., will provide traditional retail and institutional asset management across the Chinese market, the company said.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.