(Following is a reformatted statement of Charoen Pokphand
Group Co. Ltd. via an electronic mail. The press release was
confirmed by the sender.)
Date: December 25, 2012
CLARIFICATION BY THE CHAROEN POKPHAND GROUP REGARDING THE
ACQUISTION OF PING AN INSURANCE SHARES
Recently, there have been false news reports regarding the
acquisition of Ping An Insurance shares by the Charoen Pokphand
Group which was also reported online as well. In this regard,
the Charoen Pokphand Group would like to officially clarify as
The acquisition of shares were legal
* The source of capital is transparent
On December 5th, 2012 the companies All Gain Trading
Limited, Bloom Fortune Group Limited, Business Fortune Holdings
Limited and Easy Boom Developments Limited (the “Purchasers”),
had signed an agreement to transfer shares of Ping An Insurance
from the seller HSBC Insurance Holdings Limited and The Hong
Kong and Shanghai Banking Corporation Limited.
CP (Charoen Pokphand Group Co., Ltd.) would like to clarify
that all 4 companies (All Gain Trading Limited, Bloom Fortune
Group Limited, Business Fortune Holdings Limited and Easy Boom
Developments Limited) are subsidiaries of CP which CP fully owns.
Furthermore, this acquisition was conducted with legal capital
from the Charoen Pokphand Group and its subsidiaries. Since the
People’s Republic of China opened up its country in 1979, CP had
cooperated well with the Chinese government.
CP was the first foreign entity to invest (in China) and
throughout the years, CP had upheld the three agricultural
development policies (Xinnongchun) as well as the ‘3-Benefits
Principle’ (Benefit to the country, benefit to the people and
benefit to the company).
In addition, CP had continually reformed agricultural
management such as expanding agricultural land, setting strict
agricultural standards and modernizing agriculture. CP is
confident in the development of Ping An Insurance and aims to
collaborate with Ping An Insurance to develop every sector in
the rural area which is in line with the policy of modernizing
China’s agricultural sector.
Charoen Pokphand Group
Office of Corporate Communications Affairs
Tel: +662-625-8127 to 30 or +6684-080-8585
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