The company had entered into this JV with the state-owned Chinese company back in the year 1996. It owns 51% stake in Sinochem. Also indicating at the Barclays Americas Select Conference, that the acquisition isn't a priority in Canada's list; the company would still grab the opportunity to push up the stake in this JV.
Phil Witherington, the CFO of Manulife Financial said that it isn't a necessity but "nice way to potentially deploy capital".
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