China's Anbang Insurance Group Co. Ltd. has selected JPMorgan to arrange the sale of its Netherlands-based subsidiary, Vivat NV, Reuters reported, citing two people familiar with the matter.
Anbang reportedly asked banks in August to pitch for a role in the planned €1.4 billion to €1.8 billion sale of the Dutch insurer.
ASR Nederland NV recently showed an interest in buying Vivat from Anbang. Other potential buyers include Netherlands' Aegon NV, German insurance group Allianz SE as well as Apollo Global Management LLC unit Athora Holding Ltd.
JPMorgan declined to comment on the matter. A Vivat spokesperson referred questions to Anbang, which could not be reached immediately, the news outlet reported.