Exclusive: China authorities ask Ping An to take controlling stake in Country Garden, sources say

Chinese authorities have asked Ping An Insurance Group to take a controlling stake in embattled Country Garden (2007.HK), the nation's biggest private property developer, four people familiar with the plan said.

The logo of Ping An Insurance is seen at the Global Mobile Internet Conference at the National Convention Center in Beijing, China April 27, 2018.

Authorities are keen that any risks posed by Country Garden's liquidity problems should not spill over to the wider economy, said three of the sources. Ping An has been asked to conduct due diligence on Country Garden, two sources also said, adding that authorities understood the insurer was a listed company answerable to shareholders.

Country Garden's largest shareholder with a stake of about 52% is Yang Huiyan, chairperson and daughter of a co-founder. Reuters was not able to reach Yang for comment. Chinese authorities are eager to make the proposed takeover a possible template for other financially troubled developers, two of the sources also said.Authorities are keen for the Country Garden's liquidity problems to be resolved within Guangdong, three sources said. Ping An was a natural choice because it is based in Guangdong and has been a major Country Garden shareholder, according to two of the sources.

このニュースをすぐに読めるように要約しました。ニュースに興味がある場合は、ここで全文を読むことができます。 続きを読む:

Reuters /  🏆 2. in US

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

Jelly Roll Gets Teary Over Acceptance From Nashville and Country Music Peers (Exclusive)The 'Save Me' artist is gearing up to open the 57th Annual CMA Awards on Wednesday.
続きを読む »

Game of Thrones' Jorah Actor Is A Ruthless Villain In Operation Napoleon Exclusive Clip [EXCLUSIVE]Exclusive: Screen Rant presents a clip from Operation Napoleon, in which Game of Thrones' Jorah actor Iain Glenn plays a villain whose luck turns.
続きを読む »

The Eminence in Shadow Season 2 Episode 6: Will Shadow Garden Fight the CID?Know all about how Shadow Garden fights the CID in Season 2 Episode 6 of The Eminence in Shadow. Will the shipment be saved? Read to know.
続きを読む »

Why you should 'leave the leaves' in your yard and garden​According to a report from Rutgers Cooperative Research and Extension, leaves are rich with minerals like potassium, nitrogen and phosphorous.
続きを読む »

James Harden listo para debutar con los Clippers ante Knicks en el Madison Square GardenJames Harden “definitivamente” planea debutar este lunes con los Clippers de Los Ángeles en el Madison Square Garden.
続きを読む »

Here’s how to put your Colorado garden to bed for the winterMid to late fall is a great time to directly seed outdoors native wildflowers, ornamental grasses and certain perennials that require outdoor cold temperatures and moisture.
続きを読む »