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The China Insurance Regulatory Commission has approved HSBC's (HBC) sale of its remaining 15.7%...
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Friday, February 1, 6:09 AM ETThe China Insurance Regulatory Commission has approved HSBC's (HBC) sale of its remaining 15.7% stake in Ping An Insurance to Thailand's Charoen Pokphand for $7.5B. There had been reports that the agency would block the deal due to concerns about how Charoen Pokphand would fund it. HSBC will now be able to book a $2.6B post-tax gain. (previous)
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