(Bloomberg) -- China Life Insurance Co. and Ping An
Insurance (Group) Co., the nation's two largest insurers, got
regulatory approval to pay a combined 10.9 billion yuan ($1.42
billion) for shares in China Minsheng Banking Corp.
China Life and Ping An were approved by China's banking
regulator to buy 5.45 billion yuan of Minsheng Bank shares each,
according to a statement by the Beijing-based bank to the
Shanghai Stock Exchange today. The companies each will own 4.93
percent of the bank, the statement said.
Read more at Bloomberg Emerging Markets News
Insurance (Group) Co., the nation's two largest insurers, got
regulatory approval to pay a combined 10.9 billion yuan ($1.42
billion) for shares in China Minsheng Banking Corp.
China Life and Ping An were approved by China's banking
regulator to buy 5.45 billion yuan of Minsheng Bank shares each,
according to a statement by the Beijing-based bank to the
Shanghai Stock Exchange today. The companies each will own 4.93
percent of the bank, the statement said.
Read more at Bloomberg Emerging Markets News
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