(Beijing) – Chinese investors are behind the financing of the first phase of a multi-billion dollar deal between a Thai conglomerate and HSBC Holdings. One used capital maneuvered from three domestic banks to fund the transaction, Caixin has found.

The London-based bank HSBC announced December 5 that it would sell its 15.57 percent stake in Ping An Insurance Group Co. to four companies from Charoen Pokphand Group (CP Group) for a total of US$ 9.4 billion.