Chinese regulator signs off $1bn ACR sale

Chinese regulator the National Development and Reform Commission
(NDRC) has approved Asia Capital Re (ACR)'s $1bn sale to
Shenzhen Qianhai Financial Holdings, The Insurance
Insider can reveal.
The decision will clear the way for the long-delayed deal to
close.
The NDRC has been cracking down on outbound M&A deals since
the Chinese state became concerned that too much capital was
flowing out of the country, and ACR's sale -agreed in October last year - was held up by the...