Ping An denies irregular deal
- Published: 22 Dec 2012 at 20.09
- Online news:
Ping An Insurance (Group) Co has denied a media report that the insurer's management may have helped fund Chinese backers of Thai billionaire Dhanin Chearavanont in his purchase of shares in the company from HSBC Holdings.
"Ping An management may have provided funds to allow a Chinese investor backing the deal to repay money borrowed from three mainland banks he controlled," the Caixin Online website of Century Weekly magazine said. The report did not name the managers involved.
"That's an irresponsible report," Sheng Ruisheng, a Shenzhen-based spokesman for Pingh An, said on Saturday.
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