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Daily Digit: Ping An Buy Highlights Thai Acquisition Drive.
Today's Daily Digit is 9.4 billion. That's the dollar price on a 16 percent stake in China's Ping An insurance sold by banking giant HSBC The new owner? A unit of Thailand's CP group - the country's largest agribusiness conglomerate and controlled by its richest man. The sale is part of HSBC's drive to boost profitablity by shedding non-core businesses. The Thai conglomerate's move surprised many. But analysts say the Chinese insurance sector looks promising.
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