Extremely Wealthy
Jack Ma-backed Yunfeng Financial buys Asia unit of MassMutual for US$1.7 billion
Yunfeng Financial Group Ltd, the company backed by Alibaba billionaire Jack Ma, agreed to buy an Asian unit from Massachusetts Mutual Life Insurance Co to add offerings such as death benefits and annuities. The buyer will pay HK$13 billion (US$1.7 billion) for Hong Kong-based MassMutual Asia Ltd, with about 60…
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Click here to read the full story: South China Morning Post