December 19, 2016 / 9:22 AM / 8 months ago

BRIEF-Meidu Energy to bid for Cinda Property and Casualty Insurance

Dec 19 (Reuters) - Meidu Energy Corp

* Says it plans to bid for 1.23 billion shares of Cinda Property and Casualty Insurance at 1.99 yuan per share for no lower than 2.45 billion yuan ($352.70 million)

* Says Cinda Property and Casualty Insurance will become company's unit if it wins the bid

Source text in Chinese: bit.ly/2h1fu6K

Further company coverage: ($1 = 6.9464 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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