Deals
Sun Life Said to Seek Buyer for U.S. Annuities Unit
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Sun Life Financial Inc., Canada’s third-largest insurer, is seeking a buyer for a U.S. annuities business that may fetch more than $1 billion, said people with knowledge of the matter.
Morgan Stanley is helping Sun Life solicit bids and has attracted interest mostly from investment firms, including Guggenheim Partners LLC and a company run by U.K. investor Clive Cowdery, said the people, who asked not to be named because the talks are private. Sun Life may pick a suitor for exclusive talks within days, one of the people said.