Skip to content
Subscriber Only

HSBC’s Sale of Ping An Stake Draws Mounting Skepticism

HSBC Holdings Plc’s proposed sale of its stake in Ping An Insurance (Group) Co. to Thai billionaire Dhanin Chearavanont is facing speculation that Chinese regulators may block the $9.4 billion deal.

Current rules from China’s insurance watchdog may bar the use of external financing for such deals, Esther Chwei, an analyst at Deutsche Bank AG in Hong Kong, said in a note. China Development Bank, a policy lender that had agreed to fund part of the purchase for Dhanin’s Charoen Pokphand Group Co., has canceled its loans, Caixin reported yesterday.