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Manulife Is Said in Talks to Buy Full Control of Chinese JV

  • Joint venture stake would cost at least $272 million
  • Manulife joins BlackRock, JPMorgan in China competition
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Photographer: Brent Lewin
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Manulife Financial Corp. is planning to seek full control of its mutual fund joint venture in China to expand in one of the world’s fastest-growing wealth markets, according to a person familiar with the matter.

The Toronto-based insurer is in talks to buy the 51% stake being sold by partner Teda Investment Holding Co., the person said, requesting not to be identified because the matter is private. The stake would cost at least $272 million, according to an auction statement on Wednesday.