Goldman, GIC pick up Taikang stake
A consortium of Goldman Sachs and a unit of the Government of Singapore Investment Corporation (GIC) has fulfilled earlier predictions by winnng the auction of the 15.6% stake in the PRC's Taikang Life Insurance Corp. formerly owned by French insurance giant AXA, for about $1.1 billion, over rival bidders including the Blackstone Group, Kohlberg Kravis Roberts & Co., and fellow Singaporean SWF Temasek Holdings.
According to PRC press reports, Goldman Sachs will take up 12% of the stake, with Tetrad Ventures Pte Ltd., an entity of GIC Special Investments which apparently held a small stake in the insurer since...
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