Ping An To Buy Stake in TPG-Backed Shenzhen Bank

Posted on: June 12, 2009 by PEHub AdministratorNo Comments »

HONGKONG (Reuters) – China’s Shenzhen Development Bank (000001.SZ) plans to raise at least 8 billion yuan ($1.17 billion) selling a stake to Ping An Insurance (Group) (2318.HK) via a private placement of shares, a person with direct knowledge of the deal said on Friday. Ping An plans to buy the shares for at least 16.4 [...]