Caixin OnlineFinance & EconomicsTop Stories Finance Chinese Investors Backed CP Group's Purchase of Ping An Stake
12.22.2012 18:07

Chinese Investors Backed CP Group's Purchase of Ping An Stake

Financier Xiao Jianhua maneuvered capital from mainland municipal banks to Charoen Pokphand Group's purchase of Ping An shares from HSBC
By staff reporters Ling Huawei and Yang Lu

(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.

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