Some of the world’s largest insurance companies and asset managers are getting ready to submit their final bids for Viridium Group, a life insurance consolidation firm based in Germany. This is shaping up to be one of the most fiercely contested deals in the country this year, according to sources familiar with the situation.
A group supported by BlackRock Inc., along with insurance giants Allianz AG and Japan’s T&D Holdings Inc., is among the interested parties preparing binding offers. Cinven, the current owner of Viridium, is aiming for a valuation exceeding €3.5 billion. Viridium currently holds around €67 billion in assets.
