China's Anbang on global shopping spree

Anbang buys control of Korea’s Tong Yang for $1b, the latest in a string of international acquisitions.

China's Anbang on global shopping spree

Anbang Insurance Group of China has agreed to buy a controlling stake in Tong Yang Life Insurance for 1.13 trillion won $1.06 billion, the latest in a string of international acquisitions by the Beijing-headquartered group. 

Tong Yang said in a filing on Tuesday that Anbang will acquire 63% of Tong Yang at 16,700 won a share from shareholders including Korean private equity firm Vogo Investment Group. It will pay an additional 33.9 billion...

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