Busy night sees four block trades hit the market

NEC offloads its entire stake in Lenovo, raising $230 million, while Prudential exits Taiwan's China Life Insurance through a $156 million transaction.
<div style="text-align: left;">
NEC last night sold its entire stake in Chinese PC maker Lenovo
</div>
<div style="text-align: left;"> NEC last night sold its entire stake in Chinese PC maker Lenovo </div>

It didn’t look like the most obvious day to do a deal with the US closed for Labour Day on Monday and Asian stock markets under pressure yesterday after Moody’s downgraded its outlook on the EU, but four block trades nevertheless hit the market after the close.

Perhaps the sellers wanted to get ahead of a potential sale of shares in pan-Asian life insurer AIA Group by American International Group AIG, which could soak up a lot of excess demand if it does happen. AIG still owns a 17.6% stake AIA, which it became free to sell yesterday when its latest six-month lock-up expired. The stake is...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222