A BlackRock (BLK) and Fortress Investment Group-led consortium is reportedly exploring a bid for German life insurance consolidator Viridium Group, which could be valued at around 3 billion euros ($3.24 billion), Bloomberg reported Monday, citing people familiar with the matter.
Other interested parties include Blackstone (BX), Deutsche Bank's (DB) DWS Group, and Partners Group, along with insurers such as Assicurazioni Generali, Apollo Global Management's (APO) Athora, and Sixth Street, the report said.
Viridium's owner, Cinven, requested initial expressions of interest last week, with introductory meetings scheduled soon, according to the people.
The sale is still in early stages, with some bidders potentially teaming up as discussions progress, the report said, adding that it is still unclear who will proceed further in the process.
The companies did not immediately respond to MT Newswires' requests for comment, while Sixth Street could not be reached.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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