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Strategies & Market Trends : Asia Forum
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To: Worswick who wrote (1540)1/25/1998 4:45:00 PM
From: Thomas Haegin  Read Replies (1) of 9980
 
Worswick, the post you put out to Bernie Tate just reminded me of a story that came in the media here some days ago: Apparently Zurich Insurance was in negotiations with Peregrine of HK to buy either a big chunk or take them over completely. As we know, Pere is bust now.

I don't know whether Zurich was planned to come in as a White Knight and inject capital into the troubled Pere. or was unaware of the big trouble Pere. faced with the taxi co. Anyway, they didn't like what they saw in their due diligence and walked away - the result for Pere. being as we know it. So management of Zurich did a pretty good job, I'd say.

Just an anecdote from Switzerland,
Thomas
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