Dai-ichi Life, Fukoku among bidders shortlisted for Indonesia Panin Life stake-sources
TOKYO/JAKARTA Dec 6 (Reuters) - Japan's Dai-ichi Life Insurance Co Ltd and Fukoku Mutual Life Insurance Company are among the companies shortlisted to buy a large minority stake in Indonesia's Panin Life for about $200 million, sources said.
Controlled by Indonesia's powerful financier Gunawan family, PT Panin Financial is planning to sell up to a 40 percent stake in its life insurance unit. The shortlisted firms have been asked to submit binding bids by the end of this month, the sources, who had direct knowledge of the deal, said.
Spokesman for Dai-ichi and declined to comment.
Bank of America Merrill Lynch, which is advising Panin on the sale, declined comment. (Reporting by Taiga Uranaka and Janeman Latul; Writing by Denny Thomas; Editing by Muralikumar Anantharaman)