Companies

China Pacific sells stake

(China Daily)
Updated: 2010-11-30 13:46

China Pacific Insurance (Group) Co plans to sell its 50 percent stake in an insurance venture with ING Groep NV for 943 million yuan ($141 million), according to a statement from the Chinese company to the Shanghai United Assets and Equity Exchange.

The stake in Pacific-Antai Life Insurance Co has a book value of 927 million yuan, the statement said.