HSBC CCF Asset Management, the French fund management subsidiary of HSBC, is seeking to repurchase the 40% of Sinopia Asset Management it floated in 1998, for €74m ($68m).

It has acquired Sinopia shares from KBC Group, BBVA Group and Mellon Financial Corporation at a price of €27.5 per share. This takes its holding in Sinopia up from 60.4% to 76.7%, and it will make a public offer to all the outstanding minority shareholders, at the same price.