Aug 16 Blackstone Group LP is in talks to
buy a minority stake in Goldman Sachs Group Inc's UK
pensions insurance operation, Rothesay Life, the Financial Times
reported on Friday.
The talks are being led by Blackstone's $3 billion "tactical
opportunities" fund, the newspaper said, citing people familiar
with the matter. ()
Reuters reported earlier this month that Goldman Sachs
plans to sell a majority stake in its European insurance
business over the next year.
Bankers estimate the Rothesay unit's value at between 750
million and 950 million pounds ($1.17 billion-$1.48 billion),
the daily reported, adding that the sale process does not
involve a formal auction.
Representatives of Blackstone and Goldman Sachs were not
immediately available for comment.