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Hong Kong Life Insurance, owned by five Hong Kong firms, called off its $907 million sale to a Chinese consortium last month after waiting for more than a year to get the transaction closed. While Hong Kong Life shareholders, including OCBC Wing Hang Bank and Asia Insurance Company, did not respond to a Reuters request for comment on the deal, two sources familiar with the matter said there were concerns about the deal’s funding. Chong Hing Bank, another shareholder of Hong Kong Life, declined to comment custom logo cufflinks uk sale.

U.S. insurer MetLife Inc (MET.N) has decided to shelve the sale of its Hong Kong business worth over $500 million after the short-listed Chinese suitor failed to meet the funding commitment, said people with knowledge of the matter. MetLife Hong Kong declined to comment. In recent years, Hong Kong financial deals saw competition among Chinese bidders, driving up valuations. China’s Thaihot Group bought Hong Kong’s Dah Sing Financial life insurance unit in 2016 for $1.4 billion in the most expensive insurance M&A, paying nearly three times the embedded value compared to 1.3-2.0 times for similar deals in the region custom logo cufflinks uk sale.

While bankers said Chinese bidders with strong overseas business presence and balance sheets would still be able to compete for Hong Kong financial assets, the curbs are expected to open up the field for non-Chinese firms custom logo cufflinks uk sale. Beijing-based JD Group is selling its Hong Kong insurance unit, FTLife Insurance, and potential bidders are likely to include Hong Kong’s Chow Tai Fook Enterprises (CTFE), Asian private equity firm PAG and a Japanese insurer. JD Group, FTLife and CTFE did not respond to requests for comment, while PAG declined to comment..

Taiwan’s Fubon Financial (2881.TW) is also looking to sell its Hong Kong banking unit, likely to be valued at over $1 billion, and investment bankers are rushing to tap potential bidders from Singapore, Malaysia and elsewhere, two of the people said. Fubon Financial declined to comment, while Fubon Bank did not respond. “Regulations are making people more cautious in thinking about insurance deals,” said Samson Lo, UBS’s head of Asia M&A. “Those who are able to pay above and beyond are non-traditional buyers such as private equity companies custom logo cufflinks uk sale. The buyer’s universe has become more diverse.”..

LAS VEGAS (Reuters) – Amazon.com Inc (AMZN.O) said on Tuesday it was starting a new antenna service for uploading and downloading data from satellites, in a bid to lure space industry and other customers to the cloud. The world’s No. 1 cloud computing company said it was aiming to make data transfers from space cheaper and easier through 12 antennas that will allow direct transmission to its data centers across the globe custom logo cufflinks uk sale. The company also announced a partnership with Lockheed Martin Corp (LMT.N), whose satellite receivers would connect directly to AWS Ground Stations to help manage data downloads in real time and meet unanticipated demand..