Investment Summary

New China Life Insurance Invests In China Guangfa Bank Co.

On February 29, 2016, New China Life Insurance invested in financial services company China Guangfa Bank Co. from Citi

Investment Highlights
  • This is New China Life Insurance’s 1st transaction in the Financial Services sector.
  • This is New China Life Insurance’s 1st transaction in China.

Investment Summary

Date 2016-02-29
Target China Guangfa Bank Co.
Sector Financial Services
Investor(s) New China Life Insurance
Sellers(s) Citi
Deal Type Stake Purchase

Target

China Guangfa Bank Co.

Guangzhou, China
China Guangfa Bank is one of the earliest-incorporated joint-stock commercial banks in China. In light of the vision to be a first-class commercial bank, the Bank strives to be the best mid to high-end retail bank and the most efficient SME bank in China, and has cultivated a core operation philosophy focusing on innovation, efficiency, customer-orientation, IT leadership and employee welfare.

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Investor(S) 1

Investor

New China Life Insurance

Beijing, China

Category Company
Founded 1996
Sector Insurance
Employees40
DESCRIPTION

New China Life Insurance (“NCI”) is a life insurance company in China, with 8.9% share of the China life insurance market in 2010. NCI offers individual life, annuities, health and accident, investment-linked products and group policies. New China Life Insurance (“NCI”) was founded in 1996 and is based in Beijing, china.


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Stake Purchase M&A Deals 1 of 1
Country: China M&A 1 of 1
Year: 2016 M&A 1 of 1

Seller(S) 1

SELLER

Citi

New York, New York, United States

Category Company
Founded 1812
Sector Financial Services
Employees226,710
Revenue 81.1B USD (2024)
DESCRIPTION

Citi is a global diversified financial services holding company, whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. Citi was incorporated in 1812 and is based in New York City.


DEAL STATS #
Overall 14 of 19
Sector: Financial Services M&A 8 of 12
Type: Stake Purchase M&A Deals 1 of 1
Country: China M&A 1 of 1
Year: 2016 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-06 Cabot Financial

Kings Hill, West Malling, United Kingdom

Cabot Financial Ltd. is a provider of debt recovery services, helping people to resolve past credit difficulties.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-11 Citi - Alternative Investor Services Business

United States

Citi - Alternative Investor Services Business is a provider of hedge fund and private equity fund administration services.

Sell $321M