Anbang denies regulators told it to sell overseas assets

anbangHONG KONG: Anbang Insurance Group, whose chairman was detained in June, on Tuesday denied a report that it had been told by regulators in China to sell its overseas assets.

Bloomberg reported on Monday that Anbang, best-known overseas for the record-breaking purchase of the Waldorf Astoria hotel in New York, was told to make the disposals and repatriate the proceeds.

“Anbang has not received orders from (Chinese) regulators to dispose our assets overseas,” a Hong Kong spokesperson said.