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Article: China : Temasek eyes AXA China stake, valued at $1.05 billion.
- Article from:
- TendersInfo
- Article date:
- November 3, 2009
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Byline: babalu03
Singapore's state investor Temasek TEM.UL, Blackstone Group (BX.N) and KKR are among the firms expected to submit bids soon for AXA's (AXAF.PA) stake in China's No.4 life insurer Taikang, sources said, an investment AXA values at $1.05 billion.
First-round bidding for Beijing-based Taikang Life is due on Friday, with AXA expecting to close the deal before the end of this year, the sources, who are directly involved in the auction, told Reuters on Monday.
Taikang's total assets are worth $28.12 billion, according to an auction-related document obtained by Reuters.
The sale document says that Taikang has a 7.9 pct market ...