Deals
JD Capital Said Among Bidders for $1 Billion Dah Sing Life Arm
- Dah Sing narrows list of bidders for life insurance operations
- Country Garden, China Life chosen to proceed to next round
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JD Capital, the Chinese investment firm that agreed to spend more than $1 billion on a Hong Kong insurer last year, is among bidders picked to submit second-round offers for Dah Sing Financial Holdings Ltd.’s life insurance operations, people familiar with the matter said.
Chinese property developer Country Garden Holdings Co., China Life Insurance Co. and Canada’s Sun Life Financial Inc. were also among suitors chosen to make bids in the next round, the people said, asking not to be identified because the discussions are confidential. Some initial offers valued the Hong Kong insurance business at more than $1 billion, according to the people.