Wall Street Grand LLC, a leading investor newsletter is pleased to announce to the investment community and Wall Street Grand members market moving news about the possible purchase of Taikang Life Insurance Co. shares by Goldman Sachs Group Inc., (NYSE:GS). Goldman Sachs trades on the “New York Stock Exchange” under the symbol: GS. To learn more Goldman Sachs, (NYSE:GS), make sure to visit our exclusive website http://www.wallstreetgrand.com/.
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Goldman Sachs Group Inc.’s private equity unit is in preparation to buy some if not the entire 15.6 percent stake in China’s Taikang Life Insurance Co. being sold by Axa. The Government of Singapore Investment Corp., which holds 8% of Taikang Life Insurance Co., is also considering raising its stakes. Axa’s holding in Taikang Life Insurance is estimated to be worth $1 billion.
Taikang Life has a market share of about 8 percent, trailing behind quite bigger rivals, China Life Insurance Co. and Ping An Insurance (Group) Co. Axa became a shareholder in Taikang Life in 2006 by acquiring Credit Suisse Group AG’s Winterthur insurance unit. Winterthur had a 15.6 percent stake in Taikang Life, which was the fifth-biggest life insurer in China in the first nine months of 2009, according to China Insurance Regulatory Commission.
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