China Insurance purchases Taiping Life 65% at $522.4M

China Insurance International Holdings Company Limited (0966) is to acquire 62 .5% stake of Taiping Life Insurance Company Limited from China Insurance Company Ltd, parent company of China Insurance International, at a consideration of $522.4 million, of which $280 million will be settled in cash and the balance by issue of 78.5 million new shares of China Insurance International Holdings. The issue price of new share is $3.0875 per share with

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