Societe Generale lobbies China in fight over bank

Article Abstract:

Bids by two foreign banks, Societe Generale S.A. and Citigroup Inc., for a stake in China's Guangdong Development Bank are discussed. Citigroup is proposing ownership of 40%-45% of the Chinese bank, which significantly exceeds China's foreign ownership limit of 25%. Societe Generale is lobbying the Chinese government to accept its bid, which complies with the country's foreign ownership laws even though it is about $74 million lower than the bid from Citigroup.

United States, China, Commercial Banks, Foreign operations, Administration of General Economic Programs, Public affairs, Foreign Investment Regulations, Banking industry, Foreign investments, Political activity, Bank mergers, Political aspects, Citigroup Inc., C, Foreign investment laws, Societe Generale S.A., Guangdong Development Bank

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Aegon enters Turkish market with acquisition

Article Abstract:

Dutch insurer AEGON N.V. has agreed to buy Turkish pension provider and life insurance firm Ankara Emeklilik Anonim Sirketi. Ankara Emeklilik has in excess of 54,000 pension fund members and approximately $42 mil in assets under management.

INSURANCE CARRIERS, Turkey, Netherlands, AEGON N.V.

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Zurich Financial Services AG

Article Abstract:

Zurich Financial Services AG is planning to sell the majority of its French insurance business to Assicurazione Generali SpA. Financial details of the sale were not made available.

Italy, Zurich Financial Services, Assicurazioni Generali S.p.A.

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