China’s Debt-Ridden Anbang Insurance Aims to Sell $200M of Japan Real Estate

China’s Debt-Ridden Anbang Insurance Aims to Sell $200M of Japan Real Estate
28/09/2018 , by , in INTERNATIONAL

Anbang Insurance Group Co. Ltd. aims to sell $200 million worth of Japanese real estate to bidders including Blackstone Group LP, about two years after buying them from the U.S. investment firm, two people with knowledge of the matter said.

The debt-laden Chinese insurer, which was taken under the government control in February after spending more than $30 billion on acquisitions in recent years, is selling a portion of its Japanese residential assets to shore up its balance sheet, the people said.

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