Skip to content
Subscriber Only

China Asks Waldorf Owner Anbang to Sell Assets Abroad, Sources Say

  • Government said to ask Anbang to bring proceeds back to China
  • Anbang says it currently has no plans to sell overseas assets
Video player cover image

Waldorf Owner Said to Be Told to Sell Overseas Assets

Updated on

Chinese authorities have asked Anbang Insurance Group Co., the insurer whose chairman was detained in June, to sell its overseas assets, according to people familiar with the matter.

The government has also asked Anbang to bring the proceeds back to China after disposing of holdings abroad, said the people, who asked not to be identified because details are private. It is not clear yet how Anbang will respond, the people said.