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Benzinga
Benzinga
Business
The Bamboo Works

All in the Family: Cash-strapped ZhongAn Taps Chairman's Ties to Fund a Money-losing Unit

Alibaba Insurance Tencent fintech United States

Key Takeaways:

  • Sinolink will buy about 156 million new shares in ZhongAn’s overseas business development unit, ZhongAn International, for about $103 million
  • The deal comes in a difficult year for ZhongAn, whose own cash holdings are dwindling
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