Carlyle Group LP and KKR & Co LP are among the bidders to have made first round offers to purchase a minority stake in Thai Life Insurance Co Ltd, in a deal said to be worth about $500 million, according to people close to the auction.Malaysian sovereign wealth fund Khazanah Nasional Bhd has also made a bid, the people said, as the growth behind Asia's insurance industry has fueled dealmaking across the sector.Rising personal income in Asia is giving, for the first time in many cases, individuals and families the ability to afford insurance. That new demand has boosted stock prices and corporate valuations, culminating in a spate of M&A transactions.Unlisted Thai Life, the country's second biggest life insurer, is planning to sell a stake of about 20 percent in the company. It is set to be Thailand's third insurance deal in the past year, while across Southeast Asia at least three other insurance deals are brewing.
Shares of CG fell by 2.54% or $-0.85/share to $32.60. In the past year, the shares have traded as low as $20.00 and as high as $37.89. On average, 154255 shares of CG exchange hands on a given day and today's volume is recorded at 145826.