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BMO buys into Chinese bank

Published by Steve Coleman on February 22, 2012

BMO is putting down roots in China.

The Canadian bank has bought a 19.99 per cent share of COFCO Trust Company, the largest allowed under Chinese rules.

The Bank of Montreal says it plans to bring a wealth management component to the table as its part of the deal. COFCO is said to have US$5.7 billion in assets.

A CBC story has more on the deal.

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