China Ping An: China Banking and Insurance Regulatory Commission agrees Ping An Life to invest in new Founder Group

Financials Jan 31, 2022 08:39 AM (GMT+8) · EqualOcean

China Ping An Hong Kong Stock Exchange announced that according to the agreement on restructuring investment agreement and the selection of creditor's rights settlement plan of the restructuring subject, Ping An Life plans to acquire about 66.51% equity of new Founder Group for a consideration of about 48.2 billion yuan. On January 30, Ping An Life received the reply, according to which the China Banking and Insurance Regulatory Commission agreed Ping An Life to invest in the new Founder group. Ping An Life has met the basic conditions for participating in the restructuring of Founder group, and it will actively promote the follow-up work agreed in the restructuring investment agreement and the restructuring plan of Founder group with all parties.

This text is a result of machine translation.

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