China's Fosun among bidders for Singapore-based reinsurer ACR -sources
SINGAPORE/HONG KONG, May 13 (Reuters) - China's Fosun International is among suitors bidding for ACR Capital Holdings Pte Ltd which owns Singapore's biggest reinsurance firm in a deal valued at around $1 billion, people with knowledge of the matter said.
Fosun, one of China's most globally recognised conglomerates, and several other suitors are preparing to submit second round bids for the holding company of Asia Capital Reinsurance Group which has operations in the Middle East, China and Japan, they said.
The names of other bidders could not be immediately ascertained.
The holding company said its owners are examining the interest of a number of strategic buyers.
"We are however not at liberty to discuss the identities of these potential investors," it said in a statement.
Its owners include London-based private equity firm 3i, Malaysian state investor Khazanah Nasional, Singapore state investor Temasek Holdings and Japanese trading house Marubeni Corp.
Fosun declined to comment. Sources declined to be identified as the discussions were confidential.
ACR was set up in 2006 with capital of around $620 million and is ranked among the world's top 50 reinsurers. (Reporting by Saeed Azhar and Denny Thomas; Editing by Edwina Gibbs)