July 12, 2020 / 9:41 AM / 23 days ago

BRIEF-China Merchants Shekou Industrial Zone To Buy 24% Stake In Shenzhen Nanyou Holding For 7.0 Bln Yuan

July 12 (Reuters) - China Merchants Shekou Industrial Zone Holdings Co Ltd:

* SAYS TO BUY 24% STAKE IN SHENZHEN NANYOU HOLDING FOR 7.0 BILLION YUAN ($1.00 billion) VIA CASH, SHARE AND CONVERTIBLE BOND ISSUES

* SAYS PING AN INSURANCE GROUP CO OF CHINA LTD's ASSET MANAGEMENT, LIFE INSURANCE AFFILIATES WILL INVEST 3.5 BLN YUAN VIA CO'S PRIVATE PLACEMENT OF SHARES Source text in Chinese: bit.ly/2Zi9Bbg ; bit.ly/32anDNW Further company coverage: ($1 = 6.9990 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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