Thai Life may unload 20% stake | Bangkok Post: business

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Thai Life may unload 20% stake

Sources say sale seems likely in next 3 months

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  • Newspaper section: Business
  • Writer: Post Reporters & Reuters
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Thai Life Insurance Plc may sell a stake of at least 20%, say sources familiar with the matter, in a deal that could value the country's No.2 life insurer at US$2.5 billion (76.7 billion baht) and mark the third auction in the domestic sector within a year amid a wave of mergers and acquisitions. 

Highlighting fast-growing interest in one of Asia's most underdeveloped insurance markets, the potential sale comes on the heels of Prudential Plc's $590-million acquisition of Thanachart Life Assurance last month and Hong Kong tycoon Richard Li's purchase of ING's Hong Kong and Thailand units for $2.1 billion in October.

Announced Thai M&A deals have soared to a record $18.7 billion this year on mostly outbound acquisitions, overtaking the total value of deals in 2010 and 2011 combined, according to Thomson Reuters data.

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