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OCBC selling stake in Hong Kong Life Insurance for $103m
The Straits Times
|December 31, 2024
Singapore-listed lender OCBC Bank is selling its entire stake in loss-making insurer Hong Kong Life for HK$589.3 million (S$103 million).
OCBC has a 33.3 per cent stake in Hong Kong Life through its Hong Kong subsidiary.
The bank said in a regulatory filing on Dec 27 that it has agreed to sell its stake to Guangzhou-based Yue Xiu Enterprises (Holdings). The deal is subject to regulatory approvals.
Dit verhaal komt uit de December 31, 2024-editie van The Straits Times.
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