Anatomy of an Odd, Hands-Off Deal for Ping An
(Beijing) – Thailand's richest man, a former prime minister and a Chinese tycoon with close ties to banks in three cities have stepped out of the shadows to close a mysterious deal involving a major stake in Ping An Insurance Co.
The unusual collection of financiers backed by Ping An executives for their hands-off promises emerged a few weeks after London-based HSBC said December 5 it would end its 10-year-old relationship with the insurer – one of China's largest – by selling its entire 15.57 percent stake for US$ 9.4 billion, or HK$72.7 billion.
- Cloudy River
- Typhoon Kalmaegi
- Harvest Announces Closed-End Fund to Invest in Sinopec Sales Company
- Thieves' Large Haul Puts Two City Officials in Crosshairs of Graft Inspectors
- Nudging China toward Overall Governance Reform
- Amid Market Downtown, China's Developers Dig In
- CDIC Investigates Chinalco Head after Reports He Abused His Power
- New-Energy Car Market Is Open Road, BYD CEO Wang Chuanfu Says
- PBOC Punishes Payment Companies for Mishandling Bank Card Transactions
- Cabinet Said to Mull Reforms to Country's Nearly 1,800 State-Owned Farms
- Sign up to receive our free daily newsletter
- Spectre of Corruption Haunts Huawei
- Will Education Firm New Oriental Learn or Lose?
- UnionPay, Apple Said to Agree on U.S. Firm's New Payment Technology
- Coming to Grips with Ammonia in China's Haze
- Gov't Again Cracks Down on Schools for Migrant Workers' Children
- Closer Look: Alibaba's Looming IPO Sends Shockwaves through Bourses at Home, Abroad
- Media Outlet Blackmailed over 100 Companies, Xinhua Reports
- Gov't Cobbles Together Funding for Slum Renovation Projects
- Cutting Pay of SOE Bosses Just the Beginning of Necessary Changes
- Shenzhen's Qianhai Zone Joins Overseas E-Commerce Pilot