Anbang raises Minsheng stake

Anbang Insurance Group Co, the Chinese insurer that has bought New York's famed Waldorf Astoria hotel, has increased its stake in China Minsheng Banking Corp Ltd to become the biggest shareholder of the country's largest private lender.

Anbang has been on a buying spree this year that started with its purchase of the Waldorf in October for $1.95 billion.

It now owns about 3.1 billion Minsheng shares, through four different subsidiaries, and controls 10 percent of the bank, Minsheng said in a filing to the Shanghai Stock Exchange Friday.

Anbang held 1.7 billion shares as of November 28, according to an earlier securities filing by Minsheng.