China Huarong sells 70% stake in its consumer finance unit to Bank of Ningbo

📆 27-12-21 16:33:00
📰 ChannelNewsAsia

⏱ Reading Time:
17 sec. here
2 min. at publisher
📊 Quality Score:
News: 10%
Publisher: 66%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

BEIJING: China Huarong Asset Management Co said on Monday that it will sell a 70 per cent stake in its consumer finance unit for 1.1 billion yuan (US$172.64 million) to Bank of Ningbo, as Huarong continues to divest assets as part of a business revamp. After the completion of the deal, Huarong Consumer Fin

BEIJING: China Huarong Asset Management Co said on Monday that it will sell a 70 per cent stake in its consumer finance unit for 1.1 billion yuan to Bank of Ningbo, as Huarong continues to divest assets as part of a business revamp.

Huarong and Bank of Ningbo reached an equity transfer deal on Dec 27, and it is still subject to regulatory approval, it said. The bonds then rose in August after it revealed a state-backed rescue plan, under which a consortium led by the state-owned Citic Group Corp agreed to make a strategic investment in it.

Écrire un Commentaire

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

China central bank says to promote healthy development of property marketSHANGHAI : China's central bank said on Saturday it will safeguard the legal rights of home buyers and better satisfy their reasonable living needs, vowing to promote healthy development of the country's real estate market.The statement from the People's Bank of China (PBOC), made following its fourth-qua
La source: ChannelNewsAsia - 🏆 6. / 66 Lire la suite »