November 20, 2012 / 9:41 AM / 5 years ago

AgBank says gets govt ok for Jiahe Life investment

HONG KONG, Nov 20 (Reuters) - Agricultural Bank of China Ltd , China’s No.3 lender, said on Tuesday it had received regulatory approval for its purchase of 51 percent of insurer Jiahe Life.

AgBank will pay 2.59 billion yuan ($420 million) for the stake in Jiahe Life, the bank said in a statement to the Hong Kong bourse, following approval from China’s banking and insurance regulators. The investment had been announced in February.

For full statement, please click: here (Reporting by Kelvin Soh; Editing by Ron Popeski)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below