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
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.