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China's Anbang withdraws bid to buy US insurer

But Iowa's Fidelity says the withdrawal isn't final, expects Chinese insurer to refile buy application in "near future"
Friday, June 3, 2016 - 05:50
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Anbang Insurance Group has struck a remarkable spate of deals including an agreement two years ago to buy the Waldorf Astoria hotel in New York.

Hong Kong

ANBANG, a politically connected Chinese insurer, has hit a bump in its effort to buy an insurance company in Iowa for US$1.57 billion, the latest setback to its multi-billion-dollar global shopping spree.

Anbang Insurance Group has struck a remarkable spate of deals