Yahoo Philippines News - Live 2013 Philippine Elections News Updates and Results: GT Capital buys 67% stake in insurer Charter Ping An in consolidation move

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GT Capital buys 67% stake in insurer Charter Ping An in consolidation move Oct 8th 2013, 03:37 GT Capital Holdings Inc. bought a 66.7-percent interest in Ty-owned insurer Charter Ping An Insurance Corp. for P1.4 billion, as part of the a to consolidate the non-life insurance business directly under the conglomerate. The conglomerate said the share-purchase deal covered 2.33 million shares of Charter Ping An at a fixed price of P614.3 per share, and that the shares were bought from various investment holding companies of George Ty.

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