Ping An Insurance (Group) Company of China, Ltd. (SEHK:2318) sold all of its shares in Country Garden Holdings Company Limited (SEHK:2007) and has no plans to acquire the distressed developer, according to people with knowledge of the matter. The Chinese insurer offloaded the stake last quarter, the people said, asking not to be identified because the matter is private. Ping An held 4.9% of Country Garden shares as of August, according to data compiled by Bloomberg.