Deals
Blackstone Said to Bid for ING Asia With Ex-AIA Head
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Blackstone Group LP is teaming up with Mark Wilson, the former head of AIA Group Ltd., and other investors in a bid for ING Groep NV’s Asian insurance business, said two people with knowledge of the matter.
The group, which includes reinsurer Swiss Re Ltd., may make an offer of 5 billion euros to 6 billion euros ($7.35 billion) by July 16, the deadline for final bids, said one of the people, who asked not to be identified because the process is private. ING agreed to divest its insurance and asset management operations before the end of 2013 as a condition of receiving state aid.