China Insurance to acquire 25 pct stake in Huatai Insurance for 1.25 mln yuan

HONG KONG (AFX-ASIA) - China Insurance International Holdings Co Ltd said it has agreed to acquire a 25 pct stake in Huatai Insurance Agency & Consultant Service Ltd from Ming An Insurance Co (Hong Kong) Ltd for 1.25 mln yuan in cash.	    In a statement, China Insurance said it will finance the acquisition from its internal resources. It said the acquisition is subject to regulatory approvals in China.	    After the transaction, China Insurance will hold a 25 pct stake and China Reinsurance Co will have the remaining 75 pct, the statement said.	    China Insurance and China Reinsurance have agreed to inject 5.25 mln yuan and 15.75 mln yuan respectively into Huatai Insurance. 

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