Ping An poised to take Fortis stake

China’s Ping An Insurance is in the final stage of talks to buy a major stake in the asset management arm of Belgian-Dutch financial services group Fortis, sources told Reuters on Friday.

Fortis said last week that it was about to make a deal that would increase its solvency but did not give further details.
Fortis said earlier this month that its Q4 profits had halved following a €1.5bn write-down due to the sub-prime crisis.

Thank you for donating to

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation