• 木. 12月 2nd, 2021

    TRADEVIEW MARKET-INSIDER

    Market news from tradeview.tech

    China puts controlling stake of revamped Anbang on the block for $5.2 billion By Reuters

    ByTRADEVIEW FOREX

    7月 17, 2021


    © Reuters. FILE PHOTO: Company flags and the sign of Dajia Insurance Group are seen at the former headquarters of Anbang Insurance Group, in Beijing, China, July 11, 2019. REUTERS/Jason Lee

    SHANGHAI (Reuters) – Two Chinese state investors plan to sell a combined 98.78% of their stakes in Dajia Insurance Group, the revamped entity of embattled Anbang Insurance Group, for 33.6 billion yuan ($5.19 billion), according to an auction filing on Friday.

    China Insurance Security Fund Co Ltd, the state rescue fund for the insurance sector which is controlled by the Ministry of Finance, aims to auction all of its 98.23% stake in Dajia for 33.38 billion yuan.

    China Petrochemical Corp is auctioning its 0.55% stake in Dajia for 186.9 million yuan, according to an auction statement filed to the Beijing Financial Assets Exchange.

    The auction will end by Aug. 12.

    The move marks the latest development in the restructuring and divestiture of Anbang, which appears to have stalled since February 2020, when the country’s top banking and insurance watchdog said Dajia “was close to a decision on a batch of strategic investors” and “would remain privately owned”. (https://reut.rs/3xZNeGN) 

    The Chinese government took control of Anbang Insurance Group in February 2018 as part of its sweeping campaign to reduce systemic financial risk after an asset-buying spree by a handful of private-sector conglomerates.

    It finished running Anbang in 2020, and handed over Anbang’s management to Dajia, a newly established entity that took over Anbang’s assets.

    Dajia currently has total assets of 21.1 billion yuan and total liabilities of 584.6 million yuan, the filing showed. In 2020, it posted a net profit of 2.9 billion yuan, the filing added.

    ($1 = 6.4785 renminbi)

    Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

    Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



    Source link

    TradeviewForex入会特典

    Tradeviewforex.infoでは特別にトレード手数料を抑えたアカウントを提供しています。
    ・Xレバレッジ:手数料80%割引(例:1000円→200円)※スプレッド圧縮の形での還元
    ・ILC口座:1ロット当たりの手数料60%オフ(通常500円→300円)

    追加アカウントでの入会の場合は、連絡事項に「212283に乗換を希望」とご記入ください。

    English English Japanese Japanese