Chinatrust to Acquire Truswell Securities Investment Trust

August 31, 2012

On August 31, 2012, the Taipei Times reported that the board of Chinatrust Financial Holding Co. had approved plans to purchase a 98.6% stake in Truswell Securities Investment Trust Co, a local fund house, for NT$466 million.


On August 31, 2012, the Taipei Times reported that the board of Chinatrust Financial Holding Co. had approved plans to purchase a 98.6% stake in Truswell Securities Investment Trust Co, a local fund house, for NT$466 million.  The offer is priced at 1.52 times Truswell’s book value and in line with market valuations.  Truswell has approximately NT$2.49 billion in assets under management and a net worth of approximately NT$306 million.  The transaction is subject to regulatory approval. 

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Categories

Investment Manager M&A, Mutual Fund M&A, Transactions