According to Bloomberg, Aviva has received offers of more than 1bn dollars from Apollo Global Management, Harbinger Capital Partners and Guggenheim Partners for a US life insurance divison.
Bloomberg's anonymous sources for this news revealed that the bidders have held talks with other investors about forming groups to share the cost of the purchase.
These firms have been buying unwanted operations from life insurers since 2009, partly to access stable funds for their investment-management operations.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Aviva, with a market cap of approximately 9.4bn pounds, has been selling and closing businesses in an effort to exist less profitable markets and increase its capital reserves.
CM
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
