Deals
AXA-Affin Insurer Draws Interest From Great Eastern, Generali
- AXA, Affin seek to fetch $650 million from sale of venture
- First-round bid for the deal is expected at end of March
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Singapore’s Great Eastern Holdings Ltd. and Assicurazioni Generali SpA are among potential bidders for the life and general insurance businesses in Malaysia that AXA SA and Affin Bank Bhd. own, according to people familiar with the matter.
Great Eastern, which is majority-owned by Oversea-Chinese Banking Corp., and Italy’s Generali are working with their respective advisers on potential offers, said the people, who asked not to be identified as the discussions are private. The first round of bidding is expected to conclude by the end of next month, the people said.