Ping An Insurance Takes Control of Autohome From Telstra for USD1.6 Billion
Yicai Global
/SOURCE : Yicai
Ping An Insurance Takes Control of Autohome From Telstra for USD1.6 Billion

(Yicai Global) June 27 -- Ping An Insurance Group Co., China's second-biggest insurer, has taken control of Autohome Inc. [NYSE: ATHM] after completing the USD1.6 billion purchase of most of Telstra Corp.'s stake in China's biggest auto website.

Ping An has taken a 47.4 percent stake in Autohome. Its majority shareholder status suggests the insurer regards Autohome as a long-term strategic investment.

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