Investment Updates News
- Guangdong News
Date: 8-Dec-2006 Sources: (Shenzhen Daily)
CHINA Life Insurance Co., the country's top life insurer, will buy assets worth 32 billion yuan (US$4 billion) in China Southern Power Grid, two company officials said Thursday.
China Life would buy the assets from the State-asset management bureau under the Guangdong Provincial Government, giving it a 31.9 percent stake, they said. The company will be the second-largest shareholder in China Southern Power, the China Business News said Thursday. The Guangdong government bureau, the largest shareholder of the grid, would inject money into Guangdong Development Bank, the newspaper said, citing unnamed sources.
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