Ping an finds suitable rebound deal

  • May 4, 2021
Ping An finds suitable rebound deal

HONG KONG (Reuters Breakingviews) – Ping An Insurance may indemnify one costly deal with a better one. Not long after losing $ 1.5 billion in a failed property investment, the Chinese conglomerate plans to spend up to $ 7.9 billion to buy control of Founder Group, Peking University’s bankrupt corporate empire. A more synergistic acquisition would be welcome.

Ping An Insurance Chairman and CEO Peter Ma attends the listing of the company at the Hong Kong Exchanges in Hong Kong, China May 4, 2018. REUTERS / Bobby Yip

A 2018 foray into China Fortune Land has come back to bite Ping An. Despite …

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