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.
