Ping An extends deadline
China Daily | Updated: 2009-12-26 07:04
Ping An Insurance (Group) Co, China's second largest insurer, said it would extend the deadline for the planned acquisition of Shenzhen Development Bank Co shares from Newbridge Capital LLC to April 30 from Dec 31.
The insurer may further extend the deadline by 180 days beyond April 30, according to a filing to the Shanghai exchange.
Ping An extended the deadline after talks with Newbridge, it said, without elaborating. Trading in Shenzhen Development Bank has been suspended from Friday pending a statement.
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