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CTIHY.PK - China Taiping Insurance May Acquire Assets From Controlling Shareholder

Prepared by ChinaScope Financial | Source:Company Disclosure

  • China Taiping Insurance Holdings Co., Ltd. (China Taiping Insurance) (00966: HKG) announced recently that China Taiping Insurance Group Co. (TPG), the controlling shareholder of the company, has secured regulatory approvals in regards to the restructuring proposal of TPG and its subsidiaries.
  • As part of the restructuring proposal, TPG plans to sell equity interests in certain non-wholly-owned subsidiaries and equity interests in overseas property & casualty insurance companies to China Taiping Insurance. The consideration for the possible acquisition may be satisfied by the issuance of new shares of China Taiping Insurance.