The Fin Review reports Chinese insurer eyeing 50% stake in Aveo

Published on

Its Street Talk section reports the retirement village operator has caught the attention of China’s largest insurer China Life after some of its shareholders approached high-net-worth buyers and private equity groups in Asia about a potential transaction.

In August, Aveo appointed Bank of America Merrill Lynch to oversee a strategic review of its retirement portfolio and operations in August – including the potential to bring capital partners into the business.

China Life is one of the country’s biggest state-owned insurers with an estimated $670 billion in consolidated assets.

Aveo had no comment when we contacted them about the speculation, but the news comes as the company’s share price continues to slide, down to $1.875 from $2.000 at the start of October.