Hopu, Hony, Bain among bidders for AXA's China stake - News

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Hopu, Hony, Bain among bidders for AXA's China stake

By: AFX | 08 Nov 2009 | 11:16 PM ET

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HONG KONG, Nov 9 (Reuters) - French insurer AXA's 15.6 percent stake in China's No.4 life insurer, Taikang, attracted foreign and domestic bidders, including Temasek and Blackstone, valuing the holding at more than $1 billion, sources told Reuters on Monday. Other bidders included Bain Capital, KKR and two Chinese private equity firms, Hopu Investments and Hony Capital, according to sources with direct knowledge of the situation. All bids were received by last Friday's first-round deadline. Sources previously told Reuters that Morgan Stanley is the sellside adviser for the auction. Morgan Stanley, Blackstone, KKR, Bain, Temasek and Hopu declined to comment. Hony and AXA could not be immediately reached for comment. (Reporting by George Chen and Michael Flaherty; Editing by Ken Wills) ((george.chen@reuters.com; +852 2843 6532; Reuters Messaging: george.chen.reuters.com@reuters.net)) Keywords: AXA CHINA/SALE (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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