Deals
BNP’s Cardif in Talks to Buy Indonesian Life Insurer Stake
- Cardif submitted the highest bid, according to people familiar
- FWD is still in the process and interested in buying the stake
This article is for subscribers only.
BNP Paribas SA’s insurance arm is in talks to buy a significant minority stake in PT Bank Rakyat Indonesia’s life insurer, according to people familiar with the matter.
BNP Paribas Cardif SA submitted the highest bid for a stake in PT Asuransi BRI Life, the people said, asking not to be identified because the matter is private. Other bidders including FWD Group Ltd., backed by Hong Kong billionaire Richard Li, remain interested in acquiring the share, the people said.