Hony Eyes Dexia's Asset Management Business

(Beijing) – Hony Capital plans to buy the asset management business of Brussels-headquartered banking group Dexia SA, a source close to one of China's leading private equity funds says.

"Dexia has been affected by the financial crisis and failed to meet the capital adequacy requirements set by the Basel Accord," the source said. "The company thus started to sell some assets and its asset management business attracted Hony."