BEIJING, Dec. 8 (Xinhua) -- Anbang Insurance Group will purchase 20.5 percent of the shares of Sino-Ocean Land Holdings Limited (00377.HK) for 7.8 billion HK dollars, according to a report from finance. sina.com.cn on Monday.
Anbang Insurance has been active in overseas mergers and acquisition market. It has recently acquired Fidelity & Guaranty Life Insurance Company at the price of 26.80 U.S. dollars per share, and this is the first time for a Chinese company to acquire an American life insurance company. (Edited by Yang Qi, kateqiyang@xinhua.org)
A single purchase
