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Greentown China Holdings to acquire 11.55% stake in Aeon Life Insurance Co.

Greentown China Holdings Ltd. agreed to buy 900 million shares, or about 11.55%, of the total shares of Aeon Life Insurance Co. Ltd. for roughly 2.72 billion yuan.

The company will acquire the shares from an unnamed vendor, with the closing of the deal expected before Dec. 31.

As of Dec. 17, US$1 was equivalent to 6.90 yuan.