The decision on a buyer for the private equity arm of French insurance giant AXA is still weeks or even months away, four months after news reports confirmed that the unit had been put up for sale.
According to Reuters, talks between AXA Private Equity management and potential buyers, due diligence processes and a strategic review of the unit are ongoing factors that have delayed the sale, with one source saying that a decision may not be reached before the end of March.
The unit has a number of stakes in private companies and secondary holdings in deals that could potentially be difficult to value. The delays could also be attributed to the structural changes that would need to be implemented once the unit is acquired.
News reports suggest that Canada’s Caisse des Depots du Quebec and Singapore’s sovereign wealth fund could invest in the division alongside AXA Private Equity’s incumbent management.
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