Thai CP Group to explore new ventures with Ping An

BANGKOK Mon Dec 10, 2012 12:53am EST

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BANGKOK Dec 10 (Reuters) - Thailand's Charoen Pokphand Group said on Monday it hoped to explore the opportunity to create and develop new business ventures with Ping An Insurance , the Chinese firm in which it bought a 15.6 percent stake last week.

"Charoen Pokphand Group is confident that any business alliance which may be developed with Ping An will mutually benefit Ping An and Charoen Pokphand Group and its group companies," the Thai conglomerate said in a statement.

It was the first statement by CP Group since it bought a minority stake in Ping An for $9.38 billion from global bank HSBC last week in Asia's second-largest deal this year. The group is controlled by Thailand's richest man, Dhanin Chearavanont.

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