UPDATE 1-JPMorgan picked to run sale of Anbang' Dutch insurer Vivat - sources [Reuters (UK)]
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Source: Reuters
JPMorgan picked to run sale of Anbang' Dutch insurer Vivat: sources | Reuters 3 Min Read HONG KONG/AMSTERDAM (Reuters) - China’s Anbang Insurance Group [ANBANG.UL] has picked JPMorgan to manage the 1.4-1.8 billion euro ($1.6-$2 billion) sale of its Dutch insurance arm Vivat, two people familiar with the matter told Reuters. The Chinese government has been considering the sale of Anbang’s overseas real estate and insurance assets, which include Belgian insurer Fidea, since it took control of the troubled company in February. JPMorgan won the mandate after Anbang asked banks to pitch for a role in August, the sources said.JPMorgan declined to comment. A Vivat spokesman referred questions to Anbang. An Anbang spokesman said on Wednesday evening the review of Vivat had not been completed and a final decision would be based on the results of the review. He declined to comment further. Sources said in July the insurer was looking to offload overseas properties worth about $10 billion to sho
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