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02

McKinsey Makes First Overseas Investment With Ping An Unit Stake

By Tony Seruga

U.S. consultancy invests in property e-commerce division
Deal prepares Chinese insurer’s unit for an initial share sale

McKinsey & Co. bought a stake in the property e-commerce unit of Ping An Insurance (Group) Co., marking the U.S. consultancy’s first investment in an overseas company in its more than 80-year history.

The investment is a step toward preparing for an initial public offering of Ping An Property (Shanghai) E-commerce Co., the unit of China’s second-largest insurer said in an e-mailed statement Wednesday. The statement didn’t disclose any schedule of the IPO or financial details of the transaction…

McKinsey Makes First Overseas Investment With Ping An Unit Stake

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