Warburg Pincus is going to acquire PCS, a financial risk management firm under Marsh (MRSH.US).
It is reported that Gaoling's offer beat other private equity firms in the bidding process and is most likely to become the potential buyer of Public Client Services (PCS).
Media reports indicate that Hillhouse Investment is close to reaching an agreement to acquire Marsh's financial risk management and life insurance brokerage business serving high-net-worth individuals in Asia. Sources familiar with the matter revealed that the companies are in discussions and the agreement could be announced as early as Friday, May 8th. It is reported that Hillhouse's offer beat out other private equity firms in the bidding process and is likely to become a potential buyer for Public Client Services (PCS).
PCS is a subsidiary of Marsh under the Mercer brand. According to its official website, the company provides financial risk management and life insurance services to over 8,000 clients in about 50 markets, with offices in Singapore, Hong Kong, Shanghai, Geneva, and Zurich.
Sources back in February indicated that Marsh was considering working with advisers to sell PCS in order to streamline its global asset portfolio, with the transaction potentially valuing the company at hundreds of millions of dollars.
Related Articles
Profit Cultural & Creative Group (300640.SZ) plans to raise no more than 103 million yuan through a private placement.
BEAUTYFARM MED (02373) spent 1.044 million Hong Kong dollars to repurchase 52,500 shares on May 8th.
On May 8th, HANXBIO-B (03378) spent HKD 704,500 to repurchase 22,000 shares.
Profit Cultural & Creative Group (300640.SZ) plans to raise no more than 103 million yuan through a private placement.
BEAUTYFARM MED (02373) spent 1.044 million Hong Kong dollars to repurchase 52,500 shares on May 8th.
On May 8th, HANXBIO-B (03378) spent HKD 704,500 to repurchase 22,000 shares.
