HONG KONG, July 12 Zurich Financial Services AG
sold about $283 million worth of shares in
New China Life Insurance Co Ltd, paring down its stake
in China's third-biggest life insurer, according to a term sheet
of the transaction seen by Reuters on Friday.
The Swiss insurer offered 97.5 million Hong Kong shares of
New China Life at HK$22.50 each, putting the total deal at
HK$2.19 billion ($283 million). The price is equivalent to a 6.4
percent discount to the company's closing price on Thursday.
New China Life also has shares traded in Shanghai
Goldman Sachs acted as sole global coordinator on the
($1 = 7.7566 Hong Kong dollars)
(Reporting by Elzio Barreto; Editing by Paul Tait)