China puts controlling stake of revamped Anbang on the block for $5.2b

China puts controlling stake of revamped Anbang on the block for $5.2b

Signage for Anbang Insurance Group Co. is displayed atop Anbang Financial Center Block B in Beijing, China.

Two Chinese state investors plan to sell a combined 98.78% of their stakes in Dajia Insurance Group, the revamped entity of embattled Anbang Insurance Group, for 33.6 billion yuan ($5.19 billion), according to an auction filing on Friday.