AIA Group Limited (SEHK:1299) entered into the Share Sale Agreement to acquire Blue Cross (Asia-Pacific) Insurance Limited from The Bank of East Asia, Limited (SEHK:23) for HKD 2106 million on March 4, 2022. For the period ended December 31, 2021, Blue cross reported Net income of HKD -32 million, and Total common equity of HKD 531 million. The transaction is subject to regulatory approvals and other closing conditions. Morgan Stanley & Co. LLC acted as financial advisor to AIA Group Limited. Edwin Northover and Jan Buschmann of Debevoise & Plimpton LLP acted as legal advisor to AIA Group Limited.

AIA Group Limited (SEHK:1299) completed the acquisition of Blue Cross (Asia-Pacific) Insurance Limited from The Bank of East Asia, Limited (SEHK:23) for HKD 2268 million on August 26, 2022. Goldman Sachs (Asia) LLC acted as sole financial adviser to BEA.