ACR-Shenzhen deal collapses as all parties walk away

Asia Capital Re (ACR)'s $1bn sale to Shenzhen Qianhai Financial
Holdings and Shenzhen Investment Holdings will not now go ahead
after all parties agreed to walk away, The Insurance
Insider can reveal.
According to market sources, while ACR had completed all of the
requirements to complete the deal, its potential buyers were forced
to re-seek approvals by the Chinese government following a number
of personnel changes at the companies and at a political level.
As a result, ACR's potential buyers..