Country Garden says studying deal to buy Hong Kong insurance asset

Dah Sing Financial Holdings

24/02/2016 09:31

HONG KONG, Feb 24 (Reuters) - Chinese developer Country 
Garden Holdings Co Ltd  2007.HK  said on Wednesday it was 
studying a deal to buy the insurance business of Hong Kong's Dah 
Sing Financial Holdings  0440.HK . 
    Country Garden Chief Finance Officer Wu Jian Bin told 
reporters an insurance business would bring synergy to the 
group's property business, without elaborating further. He said 
a decision has not been made.      
    Reuters reported early this month that Country Garden and 
China's biggest insurer China Life  601628.SS  were among those 
that have flagged their interest to bid for the $1 billion Dah 
Sing Life Assurance Co Ltd.  urn:newsml:reuters.com:*:nL3N15C47B 
    Country Garden has also submitted an application to issue 
more Panda bonds this year, the company said. 
    The bond issue comes after receiving regulatory approval to 
issue 20 billion yuan ($3.06 billion) Panda bonds via private 
placement in December, Wu said. 
  
 ($1 = 6.5350 Chinese yuan) 
 
 (Reporting by Clare Jim; Editing by Anand Basu) 
 ((clare.jim@thomsonreuters.com; +852 2912 6653; Reuters 
Messaging: clare.jim.thomsonreuters.com@reuters.net)) 
 
Keywords: DAH SING INSURANCE/COUNTRY GARDEN