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China Revives Sale of Dajia Insurance, the Firm Created to Take Over Troubled Anbang
China is reviving a sale of Dajia Insurance Group Co., the company that took over most of the operations of troubled Anbang Insurance Group Co., as the government seeks to turn the firm over to private investors, according to people with knowledge of the matter.
Advisers are working on a sale of Dajia that could value the state-owned company at about $3 billion, the people said, asking not to be identified because the matter is private. The Beijing-based insurer has drawn preliminary interest from bidders including other insurers and investment funds, and non-binding offers are set to be received as soon as this month, one of the people said.