Astra International mulls sale if insurance business
The deal could value the business at $500m.
Indonesian conglomerate Astra International is mulling the potential sale of its life insurance business PT Asuransi Jiwa Astra (Astra Life).
In a report by Bloomberg, the company is supposedly working with a financial advisor for the sale. The deal could potentially value the business at $500m.
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Astra International is said to be mulling a variety of options such as a partial stake sale, setting up a joint venture company, and a bancassurance partnership.
The discussion is still at the early stages and it is still possible Astra International would decide to retain the asset, the report said.