HSBC reportedly narrows shortlist of bidders for Singapore life insurance business
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Glonghui, April 22 – According to sources, HSBC has narrowed the list of bidders for its Singapore life insurance business to three companies: Allianz, Dai-ichi Life, and Sumitomo Life. The shortlisted companies are working with advisors to prepare binding acquisition offers for HSBC Life Singapore Pte in the coming weeks. HSBC values the life insurance subsidiary at up to 2 billion US dollars. Sources said that negotiations are ongoing and no final decision has been made yet.
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