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Guangtou Financial Holdings approved to acquire approximately 446 million shares of Beibu Gulf Property & Casualty Insurance, holding a 29.73% stake.
On April 7, the Guangxi Office of the National Financial Regulatory Administration issued an approval letter, agreeing that Guangxi Investment Group Financial Holding Co., Ltd. would acquire, respectively, 300 million shares and 146 million shares of Beibu Gulf Property Insurance Co., Ltd. held by Guangxi Financial Investment Group Co., Ltd. and Guangxi Yangtze Tiancheng Investment Group Co., Ltd. After the acquisition, Guangxi Financial Investment Group Co., Ltd. will no longer hold shares in Beibu Gulf Property Insurance. Guangxi Yangtze Tiancheng Investment Group Co., Ltd. holds 4.05 million shares of the company, representing a 0.27% ownership stake. Guangxi Investment Group Financial Holding Co., Ltd. holds 446 million shares of Beibu Gulf Property Insurance, representing a 29.73% ownership stake.
(National Financial Regulatory Administration)
(Editor: Qian Xiaorui)
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