Chinese Investors Backed CP Group's Purchase of Ping An Stake
(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.
- Souring Business, Xenophobia Makes China Dream Lose Its Appeal for African Migrants
- Fading China Dream
- How Duterte's Anti-Drug Crackdown Poses Risks to Rule of Law
- Beijing Floats Extension of Debt-to-Equity Plan to Wider Range of Creditors
- Insurance Company Executive Taking Lead at Central Huijin
- State Cement Makers Merge, Form Global Giant
- One-Third of China's Most Wanted Fugitives Seized, Anti-Graft Agency Says
- Banks Step Up Bill Oversight After Major Thefts, Fraud
- Report Highlights Need for Pension Reform to Rescue Poor Provinces
- Reform's Response to the Money Supply Warning
- Sign up to receive our free daily newsletter
- China Edges Closer to a Liquidity Trap
- First China Made Bullet Train Makes Maiden Trip
- China to Bring Back Equity Incentives for SOE Employees
- Farewell Medal Mania, Hello Sports Reform
- Dalian Wanda's Property Arm To Delist from Hong Kong in September
- China Behind on Plans to Trim Overcapacity
- Alibaba Rakes in Millions Selling Co-branding Rights to Double 11 Gala
- Can Baseball Finally Hit a Home Run in China?
- Car-Hailing Firms Try New Business Frontiers
- CSRC Suspends Creation of New Structured Funds