Cheng: This transaction is a significant step towards our goal of building an immersive ecosystem of premium quality offerings to our customers and community. — Bloomberg
HONG KONG: Hong Kong’s NWS Holdings Ltd has agreed to buy FTLife Insurance Co Ltd for HK$21.5bil (US$2.8bil) from Chinese financial holding firm JD Group, in the biggest-ever insurance acquisition deal in the Asian financial hub.
NWS, the infrastructure, logistics and transport services unit of conglomerate New World Development Co Ltd, expects the deal to help diversify its business and generate recurring income, it said in a statement late on Thursday.
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