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Article: CNinsure Announces Expansion Into Consumer Credit Brokerage Business.
- Article from:
- PR Newswire
- Article date:
- October 1, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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GUANGZHOU, China, Oct. 1 /PRNewswire-Asia-FirstCall/ -- CNinsure Inc. (the "Company" or "CNinsure"), a leading independent insurance intermediary company operating in China, today announced that it has entered into agreements to acquire 20.58% equity interest in China Financial Services Group Limited ("CFSG"), one of the leading consumer credit brokerage companies based in Guangzhou, China, for a cash consideration of RMB 85.5 million. The transaction will be subject to approval of the boards of directors of various parties to these agreements.
China United Financial Services Holdings Ltd. ("CUFS"), the predecessor of CFSG, originally started as Guangdong ...