ACR's Chinese acquirers stress deal commitment

Chinese municipal government entities Shenzhen Qianhai Financial
and Shenzhen Investment have reiterated their commitment to the
agreed $1bn acquisition of Asia Capital Re (ACR), with regulatory
approvals that had been expected late last year still
outstanding.
The 50:50 agreed acquirers stressed that the deal will proceed
as planned in a letter to ACR's clients obtained by
The Insurance Insider.
Since the deal was agreed the Chinese authorities have
introduced new rules that restrict outwards c