Allianz sells 33% of China unit to JD.com for $85mn

Allianz SE has sold a 33 percent stake in its Allianz China unit
to e-commerce giant JD.com, according to news reports.
The 536.6mn yuan ($85.6mn) investment remains subject to
approval from the China Banking Regulatory Commission, Reuters said
today.
If approved and completed, the deal will make JD.com the second
largest shareholder in Allianz China as the two companies prepare
to create a joint venture focused on digital insurance in China,
S&P Global said, citing a regulatory filing.
JD.c