Caixin
Dec 22, 2012 06:07 PM

Chinese Investors Backed CP Group's Purchase of Ping An Stake

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(Beijing) – Chinese investors are behind the financing of the first phase of a multi-billion dollar deal between a Thai conglomerate and HSBC Holdings. One used capital maneuvered from three domestic banks to fund the transaction, Caixin has found.

The London-based bank HSBC announced December 5 that it would sell its 15.57 percent stake in Ping An Insurance Group Co. to four companies from Charoen Pokphand Group (CP Group) for a total of US$ 9.4 billion.

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