30th Sep 2008 09:38
Schroders plc
Schroders acquires Securities Investment Trust Enterprise (SITE) licence in Taiwan
30 September 2008
Schroders plc (Schroders) announces that following receipt of regulatory approval one of its subsidiaries has today completed the acquisition of E.Sun Securities Investment Trust Co. Ltd. (E.Sun SITE), from E.Sun Financial Holding Co. Ltd, in Taiwan for cash consideration of approximately £8.8 million (NTD 523 million). The proposed acquisition was announced on 17 July 2008.
The acquisition of E.Sun SITE, a company that already has an existing Securities Investment Trust Enterprise (SITE) licence will enable Schroders existing business in Taiwan to establish an onshore investment and funds capability alongside its successful business distributing offshore funds. This is in line with the Group's strategy to strengthen its existing position in attractive markets.
For further information, please contact:
Schroders plc
Emma Tovey, Head of Corporate Communications +44 (0) 20 7658 2329
Local contact details
Sharon Chen, Head of Marketing & Communications +886 2 8723 6853
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