Market sources believe that the consortium to buy 32% of Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS) includes Ping An Insurance (Group) Company of China, Ltd. It is thought that the consortium is already fairly solid, with its intended members dealing with finalizing details.
Support for this assessment came this morning in a background briefing from Supervisor of Capital Markets, Insurance and Savings Prof. Oded Sarig, who mentioned Ping An as a buyer and said that this was an interesting development for the local market, among other things because "this is the ninth largest insurance group in the world, and it is also regulated globally."
A source familiar with the matter said today, "Haifeng wants to do a deal. There is a full agreement with which the investor from Hong Kong will in all likelihood go to the Supervisor of Insurance." Another source said, "The chances of the deal being completed are good to very good. It has been worked on for four months, and they have done very thorough due diligence."
Published by Globes [online], Israel business news - www.globes-online.com - on August 21, 2013
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