Anbang Insurance to sell its Japanese property portfolio

The Chinese government, controlling the Anbang group since February 2018, is to sell the insurer’s property portfolio in Japan. The properties on sale were purchased from Blackstone in 2017 for an amount of 260 billion JPY (2.4 billion USD). Blackstone is, in fact, the bidder for the buyback of these assets.

As a reminder, Beijing took control of Anbang in February 2018 following the involvement of its CEO, Wu Xiaohui, in fraud cases.

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