Foreign private equity funds are this week expected to submit bids for Axa's minority stake in Taikang Life, China's fourth-largest insurer, which has been valued at up to $1bn.
People familiar with the matter said that first-round bids were due by Friday and that a number of overseas investors had signalled interest in the French insurer's 15.6 per cent stake, which offers exposure to China's fast-growing life insurance sector.
Among those believed to be eyeing a possible bid are Kohlberg Kravis Roberts and Blackstone, the US private equity funds, and Temasek, the Singaporean state investment agency.
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