With Thailand's richest people, Xie Guomin, a global bank HSBC has purchased the entire equity interest in China's Ping An Insurance (601318.SS) for $ 938 million, with the China Development Bank to support Asia's second-largest trading this year.
HSBC Holdings (HSBA.L: Quotes) (0005.HK) said Wednesday that it has sold a 15.6% stake in the subsidiary of Chia Tai Group, a group controlled by the Chearavanont is a better understanding of the business empire of agriculture not write insurance policies.
"This is amazing HSBC shareholders, because the banks are now sitting on a profit of at least $ 800 million Antos, an analyst at Mizuho Securities in Hong Kong company (Mizuho Securities) Jim said.
"I do not know the Chia Tai Group's equity, but I was joking, Ping shareholders will get the insurance policy fried chicken bucket."
Chia Tai Group has a long history in China, whose products include feed chickens and pigs.
Mr. - worth $ 7.4 billion dollars, according to Forbes magazine - also appeared in Beijing, there is a strong political relationship. China Ping An equity acquisition funds of the state-run China Development Bank to help the Chia Tai Group, according to HSBC.
Chia Tai Group, is the first cross-border investment in the agricultural enterprises in China in 1979, according to the latest five-year plan, its task is to help the modernization of the agricultural sector in China. The company also operates in Shanghai Lotus Supermarket, according to the company's website.
Chia Tai Group, a joint venture company in Thailand and Germany's Allianz insurance company, its sales in May this year to 300 million baht ($ 9,780,000) Interest held.
HSBC is a global plan itself, as it seeks to improve its profitability, withdrew from the decade-long investment, as it looks to sell non-core divestitures Holdings.
The strength of foreign acquisitions this year, Thailand's remarkable growth, to promote the stock market's hot spots and to honor Thailand Regal seeking overseas investment. Announced M & A transactions Thailand has soared to a record $ 18.7 billion so far this year, more than the total value of transactions in 2010 and 2011 combined, according to Thomson Reuters data.
Thailand's SET Index, SETI year-on-year increase of 29.7% so far this year.
HSBC HK $ 59 per shares of Ping An (2318.HK), a total of HK $ 7.274 billion yuan ($ 939 million) sale of its shares. Ping An of China in Hong Kong shares rose 4%, to $ 60 as news.
The bank said in a statement, about a fifth of the shares to be transferred to the December 7, Thai buyers, the sale will be completed in phases. The rest is still approved by the China Insurance Regulatory Commission.
Banking Corporation (HSBC) sensitive sale
Stake in Ping An, in view of its size, is an important and sensitive disposal of HSBC - one rumored to be up for grabs since the 2008 financial crisis.
The agreement by a group of three, personally supervised by HSBC CEO Stuart Gulliver. Stephen Moss, HSBC Bank M & A group head, and the HSBC strategy director John Flint, the former is mainly traders, according to a source direct knowledge of the matter.
Analysts expect HSBC stake in Bank of Communications (BoCom) (3328.HK), China's fifth largest bank, next on the list. The equity was 19.9%, worth about HK $ 7.9 billion, according to Thomson Reuters data.
The bank has spent $ 1.7 billion to build a 15.6% stake in China's second largest insurance company, between 2002 and 2005. It confirmed that it is in negotiations to sell the part of the shares, the Hong Kong Economic Times reported on November 19, is about to sell.
The Chearavanont want to achieve Holdings, HSBC obtained a similar profit, but in the next 10 years China's stock market saw a similar run remains to be seen.
Sources said, UBS suggested that the Chia Tai Group. UBS declined to comment.
HSBC has two non-executive board seats, part of its stake in Ping An.
China Ping trading at 2.2 times book value, 33% lower than the five-year average price to book value ratio, according to Thomson Reuters StarMine data.
After the the HSBC sale expected three-year recovery plan, part of the 2008 financial crisis and regulatory reform.
The company was founded in 1988 as China's first joint-stock insurance company, Ping An of China has grown to be the largest in the world, with over 74 million customers and more than 175,000 employees, and about 50 million doses.
China Ping An deal is the second largest acquisition in Asia so far this year, the Chinese oil company China National Offshore Oil Corporation plans $ 15.1 billion to buy Canada's Nexen company behind.
As part of a safe investment, the Chia Tai Group has agreed to hold any shares purchased at least 6 months, HSBC said.
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