October 8, 2018 / 7:11 AM / 8 months ago

Anbang confirms reviewing Dutch subsidiary Vivat for possible sale

People enter the office of Anbang Insurance Group in Beijing, China, February 23, 2018. REUTERS/Thomas Peter

AMSTERDAM (Reuters) - Vivat NV, one of the Netherlands’ largest insurance companies, said on Monday its Chinese owner Anbang is conducting a strategic review of its ownership of Vivat with an eye to a possible sale.

Reuters reported last month Anbang had hired JPMorgan to lead a sale of Vivat, valued at roughly 1.5 billion euros (1.32 billion pounds).

Anbang bought Vivat, which had been nationalised by the Dutch government along with the rest of SNS Reaal, for 1 euro and a capital injection of 1.35 billion euros in 2013.

Reporting by Toby Sterling; editing by Jason Neely

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