The Chinese insurance giant Anbang Insurance Group earlier this year was taken over by the state states that there are no plans to sell assets. The message comes after the Financial Times reported that the company designated banks to divest assets.
"The review of Anbang's foreign assets is a complex and comprehensive exercise. We currently have no plans to sell foreign assets and we do not have a specific schedule for optimizing these assets," Anbang writes on his website.
Anbang is internationally renowned for its acquisition frenzy abroad, which included the purchase of the rich Waldorf Astoria hotel in New York for $ 2 billion.
Last year, Anbang founder and chairman Wu Xiaohui were arrested and recently sentenced to 18 years in prison for fraud and abuse of power.