January 10, 2013 / 3:07 PM / 5 years ago

HSBC says Ping An stake sale on track

LONDON, Jan 10 (Reuters) - HSBC said its $9.4 billion deal to sell its stake in Chinese insurer Ping An remains on track, and it is not aware of any new information related to the deal that needs to be disclosed.

After media reports that the sale had run into trouble, HSBC said in a brief statement it “is not aware of any information which must be announced to avoid a false market in HSBC’s securities or of any inside information that needs to be disclosed”.

Thailand’s CP Group agreed to buy HSBC’s 15.6 percent stake in Ping An on Dec. 5, backed by state-run China Development Bank. HSBC said on the basis of its inquiries, the information related to the deal remains accurate.

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