This tracker covers possible deals reported by media across the Asia-Pacific region over a certain period. The information is gathered from various news sources, excludes confirmed deals and is limited to potential acquisitions or sales involving companies or operations in the region. Click here to read the previous month's article.
HSBC Holdings PLC, Oversea-Chinese Banking Corp. Ltd. and Ping An Insurance (Group) Co. of China Ltd. added to the noise about possible deals within Asia-Pacific in August, even as Japan's Sumitomo Mitsui Financial Group Inc. looked outside the region for an acquisition in the asset management sector.
HSBC was said to be considering making a bid for Aviva PLC's operations, Bloomberg News reported. Acquiring Aviva's Asian assets would help HSBC diversify its business as the deal would expand the bank's insurance presence in Singapore and other parts of Southeast Asia, people with knowledge of the matter told the news outlet. The news came after Aviva confirmed it was evaluating strategic options for its Asian business.
Japan's Taiyo Life Insurance Co. will acquire 35% of Myanmar-based Capital Life Insurance Ltd.'s shares for about ¥760.0 million, Nikkei Asian Review reported. The transaction would convert Capital Life into a joint venture affiliate. The government of Myanmar is anticipated to approve the investment as early as October.
Below is a snapshot of August reports of possible deals compiled by S&P Global Market Intelligence.

Meanwhile, Ping An Insurance has been in talks to acquire Huaxia Life Insurance Co. Ltd. since 2018 but progress stalled over price issues, the South China Morning Post reported. The news comes nearly two years after it was announced that Zhongtian Financial Group Company Ltd. agreed to acquire a 25% stake in Huaxia Life for 31 billion yuan. The deal has not yet closed as Zhongtian had not been able to divest its assets to pay for the stake.
In South Korea, Korea Development Bank is still determined to find a buyer for KDB Life Insurance Co. Ltd. even after multiple failed attempts to sell the life insurer, The Korea Economic Daily reported. The policy bank is committed to selling the unit within the year, according to the report.
In other developments in the banking sector, Singapore's OCBC is considering buying nearly 90% of Indonesia's PT Bank Permata Tbk that has a market value of around US$1.9 billion, Bloomberg News reported. If the deal goes through, OCBC will likely have to combine the Bank Permata with Bank OCBC NISP, which OCBC owns an 85% stake, as local laws require. The potential merger will create the fifth-largest lender in Indonesia.
Australia's AMP Ltd. is in talks with investment bankers about a A$2 billion sale of its banking division, The Australian reported. The potential sale of the banking division is one of the options that AMP is considering to raise fresh capital. The sale could attract interest from Australia's biggest banks, as well as from banks in Japan and China. AMP also has an option to split up its life insurance business and only sell a portion of the book. The company is also believed to be working on reviving the life insurance deal, according to the report.
Japanese megabank Sumitomo Mitsui Financial Group is acquiring London-based asset manager TT International Investment Management LLP, as it seeks to offer new options to Japanese investors amid low domestic yields, The Nikkei reported. The acquisition itself is expected to cost the bank around ¥20 billion. The total cost of the deal could be as high as ¥35 billion after accounting for performance-based compensation provisions. The deal is set to close in the fiscal year ending March 31, 2020.
Further articles about other deal possibilities
Eastspring plans to buy controlling stake in Thanachart Fund
Report: Wadhawan Global Capital to sell loan distribution business
Report: Fairfax India to reduce stake in CSB Bank to 15% over next 15 years
Report: Blackstone, Carlyle, others place bids for Shriram Capital stake
