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Ping An Insurance Group Co (SSE:601318, SEHK:2318) and Shenzhen Development Bank (SDB, SSZ:000001) have jointly issued a statement to clarify rumors that their integration plan has been withdrawn by Shenzhen Banking Regulatory Bureau, Shanghai Securities News reported Monday. Ping An Insurance said the acquisition plan is being examined in accordance with the original plan. As [...]
Posts Tagged ‘Stake’
CHINA’S PING AN INSURANCE, SSB CLARIFY INTEGRATION PLAN RUMOURS
Posted by gary on December 21st, 2010
Posted in Insurance News 
Tags: Acquisition Plan, Authorities, China, Insurance, Insurance Group, Insurance Plan, Integration Plan, News Report, Rejection, Sehk, Shanghai Securities News, Shareholder, Shenzhen, Sse, Ssz, Stake, Yuan 
No Comments »China’s Ping An Insurance eyeing stake in Shanghai Jahwa
Posted by gary on December 9th, 2010
PING AN INSURANCE (GROUP) OF CHINA (SEHK:02318; SSE:601318) may purchase part of the equity in SHANGHAI JAHWA UNITED CO. (SSE:600315), according to China Business News report on Thursday. The report failed to disclose Ping An’s equity purchase scale, but said that Ping An may pay 40 yuan (US$6) for a share, higher than the 37.13 [...]
Posted in Insurance News Tags: Assets, Business Report, China Business News, China News, Insurance, Insurance Group, News Report, Ping, Reorganization Plan, Sehk, Shanghai Jahwa, Shares, Sse, Stake, United Co, Yuan No Comments »INDONESIA’S BHAKRI CAPITAL ACQUIRES 99.9% OF UOB LIFE
Posted by gary on November 9th, 2010
Investment holding PT Bhakti Capital Indonesia (JSX:BCAP) has taken over 99.9 per cent of PT UOB Life Assurance and changed the name of the life insurer to MNC Life Assurance. Bhakti Capital acquired the stake from PT Prudence Life Assurance Ltd, PT Bank UON Buana and PT Suna Antarnusa Investment with a deal signed on [...]
Posted in Life Insurance Tags: Acquisition, Assurance Ltd, Bcap, Buana, Business Strategies, Darma, Financial Services, Indonesia, Insurance, Insurance Industry, Jsx, Life Insurer, Life Investment, Mnc, Nov 5, Prudence, Putra, Stake, Uob Life Assurance No Comments »Bank of Wenzhou Suspends IPO Plan
Posted by gary on November 5th, 2010
Bank of Wenzhou has suspended its initial public offering plan due to ongoing risk control-focused internal readjustment. Bank of Wenzhou’s shareholder meeting in January 2008 approved of its IPO plan, which has been shelved since 2009 in the wake of Lin Xiaoya fraud scandal. The scandal triggered the bank’s internal readjustment, said sources. Bank of [...]
Posted in Banks & Thrifts Tags: Capital Adequacy Ratio, Core Capital, Fraud Scandal, High Tech Group, Holding Period, Initial Public Offering, Ipo, Net Profit, Private Enterprise, Reference Price, Returns On Investment, Risk Control, Shanghai Branch, Shareholder Meeting, Stake, Takeover, Yangtze River, Yangtze River Delta, Zhejiang Province No Comments »ICBC Has Buit Presence in Five ASEAN Countries
Posted by gary on November 5th, 2010
The Industrial and Commercial Bank of China has built preliminary presence in ASEAN countries so far. ICBC in April 2010 acquired approximately 97.24% stake in Thailand’s ACL Bank Public Company Limited via a tender offer, and ACL Bank in July was renamed Industrial and Commercial Bank of China (Thai) Public Company Limited. Taking over former [...]
Posted in Banks & Thrifts Tags: Acl, Asean Countries, Assets, Bank Of China, Bank One, Business License, Commercial Bank Of China, Compound Annual Growth Rate, First Nine Months, Gross Domestic Products, Icbc, Indonesia Malaysia, Industrial And Commercial Bank Of China, Net Profit, Overseas Outlets, Profits, South Africa, Stake, Tender Offer, Vietnam No Comments »SKOREA’S TONGYANG GROUP SEEKS SALE OF STAKES IN LIFE INS. UNIT
Posted by gary on November 5th, 2010
Tongyang Group, a mid-sized South Korean conglomerate, said Friday that it is pushing to sell part of its stakes in Tongyang life insurance Co. (KSE:082640) to improve its cement unit’s financial health. The group, which has been put under a creditor-led restructuring program since April in 2009, said the planned stake sale aims to reduce [...]
