China to let foreigners own plurality of fund JVs
Impending deals with Lombarda Bank and Lord Abbott demonstrate new options for shareholding arrangements.
In the queue for Sino-foreign joint ventures for fund management, two small deals stand out: in both cases the foreign party is expected to attain a plurality of shares. Although foreign partners can own up to 49% and many structures involve three or more parties, so far all these deals involve one local player holding more shares than the others.
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