At least five private equity parties plan to bid for Dutch insurance company Vivat, known for the Zwitserleven and Reaal brands. That’s what insiders say Monday in Het Financieele Dagblad.
The Chinese conglomerate Anbang wants to get rid of Vivat. The Chinese are reportedly hoping to get 2 billion euros for it. According to the sources, Athora (from Apollo), Blackstone, Cinven, CVC and TSSP (from TPG) are queuing up to bid on the whole insurer or on parts of it.
They get competition from traditional insurers, including the Dutch parties Aegon and ASR and the German Allianz. All financial parties would like to cooperate with a strategic buyer such as Aegon or ASR. According to the newspaper, the sales process will start this week. The acquisition process is expected to be completed by the summer