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US security watchdog expands scrutiny to more Chinese deals

Us Security

Greg Roumeliotis 

Insurance mergers and acquisitions rarely raise red flags with US national security watchdogs. China's Fosun International took that history to heart last year when it paid $1.84 billion for the remaining 80 per cent stake of US property and casualty insurer Ironshore Inc that it did not already own. But in December 2015, one month after Fosun completed the acquisition, it was approached by officials at the Committee on Foreign Investment in the United States (CFIUS), a government panel that scrutinises deals over national security concerns, according to people familiar with the matter ...

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First Published: Wed, October 12 2016. 00:12 IST