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China's Anbang, eyeing asset sales, start talks with banks: source

Reuters  |  BEIJING 

BEIJING (Reuters) - Anbang Insurance Group Co, once among China's most aggressive overseas dealmakers that has been seized by the government, is in talks with investment banks to advise it on selling some businesses, said a person with direct knowledge of the matter.The Chinese government took temporary control of Anbang, the owner of New York's Waldorf Astoria hotel, in February and said its chairman had been prosecuted for economic crimes, as Beijing cracks down on risks to the country's financial system. Under the government's watch, Anbang's equity structure is to be overhauled, with a ...

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First Published: Fri, April 13 2018. 10:10 IST