Italy's independent asset manager Azimut has completed the purchase of 51% of Taiwanese An Ping Investment.
Italy’s independent asset manager Azimut has completed the purchase of 51% of Taiwanese An Ping Investment.
The acquistion of a 51% share of An Ping Investment was completed through Azimut’s Luxembourg sub‐holding company AZ International Holdings.
The move was announced earlier in June as part of the company’s plans to strengthen its Asian presence.
An Ping Investment is a Taiwanese holding controlling the entire capital of Sinopro Financial Planning Taiwan Limited.
Sinopro is a Securities Investment Consulting Enterprise regulated by the Financial Supervisory Commission, active in the distribution of asset management products in Taiwan.
Azimut will invest some €3m for both the acquisition and the funding of the business plan. Azimut and Sinopro management teams will cooperate to grow the business in Taiwan over the medium‐long term.