Under pressure, Kimco eyes China acquisition

Korea Investment Management Company (Kimco) is seeking to acquire a 49% equity stake in a Chinese asset management firm – the maximum allowed under regulations imposed by Beijing. A Kimco spokesman confirms the China project but declines to reveal the target’s name or any transaction details. However, a well-placed source indicates that the firm in question is Soochow Asset Management. The date of purchase has not been finalised and it is understood that Kimco is not the only pa…