The shareholders of Singaporean reinsurer ACR Capital Holdings are considering re-visiting a potential sale of the company less than a year after a deal with Chinese buyers fell through, reports Bloomberg. A deal could value ACR at about $800 million.
The company’s owners, which include SIngapore sovereign fund Temasek, and Khazanah Nasional have asked banks to pitch for a role a role in any potential deal, according to an anonymous source.
A sale process could reportedly start as soon as early next year if they decide to proceed. However, no final decisions have been made, and there’s no certainty the deliberations will lead to a transaction, according to Bloomberg’s sources.
ACR had previously announced an agreement to be acquired by Shenzhen Qianhai Financial Holdings Co. and Shenzhen Investment Holdings Co. in October 2016, following Bloomberg’s reports that a $1 billion deal was imminent.
Roughly a year later the firm said the agreement between its owners, which also include Marubeni Corp. and 3i Group Plc, and the Chinese buyers had fallen apart.
