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Fortune Securities acquires 67% of China Euro Securities

(XFNA)
Updated: 2007-04-25 13:36

Fortune Securities Co Ltd said it has acquired a 67 percent stake in China Euro Securities Ltd from China Valin Iron and Steel Group.

CESL was originally set up by CLSA Asia-Pacific Markets and Xiangcai Securities Co Ltd and was the first Sino-foreign investment banking joint venture to be approved in China following the country's accession to the World Trade Organization.

A joint statement issued by CLSA and Fortune did not say how much the 67 percent stake cost.