Caixin
Oct 16, 2020 06:46 PM
FINANCE

In Depth: China’s Anbang Salvage Operation Runs Aground

The company created to take over a significant portion of Anbang’s assets has failed to complete its restructuring on time.
The company created to take over a significant portion of Anbang’s assets has failed to complete its restructuring on time.

Anbang Insurance Group Co. Ltd. has been dismantled and has decided to go into liquidation, but the story of the once high-flying conglomerate remains far from over.

Dajia Insurance Group Co. Ltd., the company created to take over a significant portion of Anbang’s assets, has failed to complete its restructuring plan by its initial August deadline amid disagreements among regulators and stakeholders as well as disputes over some of Anbang’s overseas assets, knowledgeable sources told Caixin.

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