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Hong Kong-based GCS Capital aims to take over asset management: Dexia

PARIS -- Failed Belgian-French bank Dexia said Tuesday that it had entered into exclusive talks with Hong Kong-based GCS Capital on taking over its asset management business.

The sale of Dexia Asset Management is the last of the main commercial units the bank needs to sell under its resolution plan.

In the event the talks conclude successfully “GCS Capital plans to maintain the current regional footprint revolving around competence centers in Brussels, Paris, Luxembourg and Sydney,” Dexia said in a statement.

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