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2006/07/12 On 30 June China Insurance HK (Holdings) Co Ltd (CIHK) has entered into an agreement to sell 29% stake in Ming An Insurance Co (HK) Ltd to Cheung Kong (Holdings) for HK$607 mm. Separately, CIIH has agreed to acquire 4.9 % stake in Ming An Insurance from CIHK for HK$102.58 mm . After these transactions, Cheung Kong will become the second largest shareholder of Ming An Insurance, and CIIH will become one of the strategic investors of Ming An. With Cheung Kong as a substantial share holder of Ming An, Ming An could leverage on such a strategic relationship to explore more insurance business opportunities, which in turn would enhance the value and brand name of Ming An .
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| 2006/07/12 On 30 June China Insurance HK (Holdings) Co Ltd (CIHK) has entered into an agreement to sell 29% stake in Ming An Insurance Co (HK) Ltd to Cheung Kong (Holdings) for HK$607 mm. Separately, CIIH has agreed to acquire 4.9 % stake in Ming An Insurance from CIHK for HK$102.58 mm . After these transactions, Cheung Kong will become the second largest shareholder of Ming An Insurance, and CIIH will become one of the strategic investors of Ming An. With Cheung Kong as a substantial share holder of Ming An, Ming An could leverage on such a strategic relationship to explore more insurance business opportunities, which in turn would enhance the value and brand name of Ming An . |
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