“HSBC Holdings Plc (HSBA)’s $7.4 billion sale of its stake in Ping An Insurance (Group) Co. (2318) to Thai billionaire Dhanin Chearavanont was cleared by regulators, ending six weeks of speculation over the deal’s fate.
Dhanin’s Charoen Pokphand Group Co. and HSBC said payment was made in cash after the China Insurance Regulatory Commission approved the sale of 976.1 million Hong Kong-traded shares in the nation’s second-largest insurer. The transfer will take place by Wednesday, HSBC said in its statement….”
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