JP MORGAN CHASE TO ACQUIRE BAD ASSETS FROM HAMC
AsiaInfo Services, April, 2004
AsiaInfo Services 04-06-2004 JP Morgan Chase to Acquire Bad Assets from HAMC BEIJING, Apr 06, 2004 (SinoCast via COMTEX) -- JP Morgan Chase & Co. (JP Morgan Chase), the 9th QFII (Qualified Foreign Investment Institution)approved by China Securities Regulatory Commission, will acquire two bad assets from Huarong Asset Management Co.
(HAMC), China's biggest bad asset disposal corporation, which will increase JP Morgan Chase's investment in China's bad assetmarket. China's bad asset market has attracted many investment banks such as Citigroup, a famous American investment bank, Deutsche Bank, the biggest commercial bank in German and Goldman Sachs Group Incorporation. JP Morgan Chase has won the contest against Citigroup on the 3 bad assets of USD 536...
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