Chinese consortium to buy Singapore's biggest reinsurance firm ACR
The deal is worth about $1.4 billion.
Shenzhen Qianhai Financial Holdings (QFH) and Shenzhen Investment Holdings Corporation(SIHC) have agreed to buy ACR Capital Holdings Pte Ltd, the owner of Singapore's biggest reinsurance firm, ACR said in a statement on Wednesday.
Reuters previously reported that the ACR deal was valued at around US$1 billion (S$1.4 billion).
Here's more from Reuters.