Deals
HSBC’s French Life Insurer Said to Attract BNP, BPCE Interest
- Credit Mutuel Arkea, Groupama also among potential bidders
- Potential sale may value the assets at more than €500 million
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BNP Paribas SA, BPCE SA and Matmut are among firms considering bids for HSBC Holdings Plc’s French life insurance business, according to people familiar with the matter.
Non-binding bids for the business are expected by the end of October, the people said, asking not to be identified because the deliberations are private. The insurance assets could also attract other French financial services groups including Credit Mutuel Arkea SA and Groupama, as well as investment firms with holdings in the sector such as Cerberus Capital Management, the people said.