China puts Dajia Insurance on the sales block for US$5.18 billion as regulators seek to offload assets from Anbang Group’s collapse

//China puts Dajia Insurance on the sales block for US$5.18 billion as regulators seek to offload assets from Anbang Group’s collapse

China puts Dajia Insurance on the sales block for US$5.18 billion as regulators seek to offload assets from Anbang Group’s collapse

China’s financial regulators are putting Dajia Insurance Group on the auction block, three years after establishing the state-owned caretaker company to manage the assets of the collapsed financial conglomerate Anbang Insurance Group.The China Insurance Security Fund has offered to sell 98.78 per cent of Beijing-based Dajia on the Beijing Financial Assets Exchange for 33.57 billion yuan (US$5.18 billion), according to a notice filed via the exchange on Friday.“This sale of Dajia Insurance…

Article by [author-name] (c) Business - South China Morning Post - Read full story here.

By | 2021-07-17T06:30:06+00:00 July 17th, 2021|Business|Comments Off on China puts Dajia Insurance on the sales block for US$5.18 billion as regulators seek to offload assets from Anbang Group’s collapse