Charoen Pokphand Group

Charoen Pokphand sees HK$12.2b gain in Ping An stake

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The HK$72.7 billion deal for 1.23 billion Ping An H shares has proved to be a good one for the agricultural conglomerate controlled by Dhanin Chearavanont, the richest man in Thailand.

Tuesday, 5 February, 2013, 4:37am

D-day for HSBC's sale of stake in Ping An

There are questions as to the ability of Charoen Pokphand to pay for HSBC's holding in Ping An Insurance. Photo: Reuters

Views on whether the second part of the transaction, worth about US$7.4 billion, can be completed are divided after several dramatic turns of events, including the transfer out of Hong Kong the head of China Development Bank's branch in the city, which was initially prepared to provide loans to support a Thai conglomerate's bid for the stake.

1 Feb 2013 - 5:23am

CDB appoints new Hong Kong boss after Ping An loan probe

Han Baoxing

The head of China Development Bank's Hong Kong branch has been moved back to Beijing after an internal probe into a loan deal for the US$9.4 billion bid by a Thai conglomerate for HSBC's holding in Ping An Insurance.

24 Jan 2013 - 4:58am

Ping An deal lends CDB a lesson

CDB is rated as one of the world's safest lenders. Photo: David Wong

HSBC's high-profile, US$9.4 billion sale of its entire stake in mainland insurance giant Ping An has so far delivered only one thing for China Development Bank chairman Chen Yuan: a lesson that perhaps it is time for his bank to be more transparent following years of fast credit expansions, largely owing to Beijing's support.

21 Jan 2013 - 2:41pm

Charoen Pokphand insists it has funds to buy HSBC stake in Ping An

CP Group says it has funds to close Ping An deal. Photo: Reuters

Thailand's Charoen Pokphand Group yesterday issued a statement reaffirming that it had the means to acquire HSBC's US$9.4 billion stake in Ping An Insurance, in a bid to scotch reports that the deal was unravelling.

12 Jan 2013 - 4:37am

HSBC needs to end its Ping An silence with simple answers

China's insurance regulator is seeking more information from Ping An Insurance after reviewing HSBC's planned sale of its $9.4 billion stake in China's No 2 insurer to Thailand's CP Group. Photo: Reuters

HSBC confirms that it is not aware of any information [in relation to the sale of its control in Ping An Insurance], which must be announced to avoid a false market in HSBC's securities, or of any inside information that needs to be disclosed.

HSBC, January 10  

12 Jan 2013 - 4:02am 2 comments

The Ping An deal - what is HSBC thinking?

Ping An is the mainland's No 2 life insurer. Photo: Reuters

It looked like a stroke of luck at a difficult time for HSBC - a chance to make a big profit from selling one of its most valuable assets in China.

Now, less than a month later, the sale of its stake in Ping An insurance has put in question the reputation of the London-based bank established in Hong Kong and Shanghai about a century and a half ago.

11 Jan 2013 - 1:28pm

Exclusive: CDB branch chief suspended over Ping An deal

The logo of China's Ping An Insurance is seen at its branch in Shanghai in this December 6, 2012 file photograph. Photo: Reuters

The head of China Development Bank's Hong Kong branch has been suspended after a U-turn by the state-owned lender over its proposed involvement in a deal for HSBC's stake in Ping An Insurance.

CDB is understood to have backed off from its plan to provide loan support for a US$9.4 billion bid by a Thai conglomerate for HSBC's holding in the mainland's No 2 life insurer.

15 Jan 2013 - 10:42am

HSBC and Ping An stand to lose if CP deal flops

State-run China Development Bank (CDB) has expressed concern over the funding behind the effort of CP Group to buy HSBC's stake in Ping An Insurance. Photo: Reuters

The possible collapse of a high-profile deal for HSBC to exit from Ping An Insurance would be a lose-lose culmination to a decade-long relationship between Europe's biggest bank by assets and the mainland's No 2 life insurer.

9 Jan 2013 - 4:08am

Exclusive: deal for HSBC's Ping An stake to be rejected

Thai bid to buy stake in Ping An in jeopardy. Photo: Reuters

Mainland regulators are poised to reject a US$9.4 billion bid by a Thai conglomerate to purchase HSBC's entire stake in Ping An Insurance.

15 Jan 2013 - 10:42am

Exclusive: HSBC sale of Ping An stake in limbo as state bank backs off loan support

A woman walks past a Ping An Insurance building in Shanghai December 6, 2012. Photo: Reuters

A high-profile, US$9.4 billion bid by a Thai conglomerate to buy HSBC's stake in a leading mainland insurance company appears to be in danger as sources say that China Development Bank (CDB) is reconsidering its decision to back the deal.

15 Jan 2013 - 10:42am

Mystery deepens over Ping An buyer

Xiao Jianhua

Reports that a secretive mainland businessman with close links to Hong Kong tycoons and mainland officials played a key role in Charoen Pokphand Group's plan to buy HSBC's Ping An stake raise fresh questions about the real buyer and the source of funding for the deal.

24 Dec 2012 - 9:14am

Ping An may have funded partners in Thai's purchase of HSBC's stake

Ping An Insurance managers may have helped fund Thai billionaire Dhanin Chearavanont's deal to buy HSBC's stake in the company. Photo: Reuters

Ping An Insurance managers may have helped fund a Thai billionaire's Chinese backers in the man's purchase of HSBC's stake in the company, the website of Caixin Century Weekly said yesterday.

23 Dec 2012 - 5:26am

Beijing cash behind Ping An stake sale raises eyebrows

A Shanghai branch of Ping An, the mainland’s second-largest life insurer, in which Thailand’s CP Group plans to buy a stake. Photo: AFP

More than half of the money that Thailand's Charoen Pokphand (CP) Group plans to spend on acquiring a major stake in Ping An Insurance comes from the central government-controlled China Development Bank (CDB), sources say - an arrangement market experts say is rare.

23 Dec 2012 - 1:47pm

Charoen Pokphand hopes rural finance can swing Ping An deal

Dhanin Chearavanont, chairman of Thailand's CP Group. Photo: Reuters

Charoen Pokphand Group, the Thailand-based food exporter which plans to buy HSBC’s stake in the mainland insurance giant Ping An Insurance, will bank on its expertise in rural finance to win Beijing’s approval for the deal, people familiar with the situation said.

11 Dec 2012 - 9:56am

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