Foreign private equity funds are this week expected to submit bids for Axa’s minority stake in Taikang Life, China’s fourth-largest insurer, which has been valued at up to $1bn. First-round bids are due by Friday and various overseas investors have signalled interest in the French insurer’s 15.6% stake, said people close to the process. US buyout firms KKR and Blackstone, and Temasek, Singapore’s state investment agency, are among those believed to have shown interest.
