12 December 2018

PICC to buy back MEAG Munich stake in unit, filing says

People’s Insurance Co. (Group) of China Ltd. (PICC) (01339.HK) said in a stock exchange filing Wednesday it will buy back the entire 19 percent stake in PICC Asset Management Co. Ltd. held by MEAG Munich ERGO Asset Management GmbH. The three agreed in July 2006 that MEAG had the right to sell the stake to the group in whole or in part by January 2014, the filing said.

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