The companies still interested in buying Clal Insurance include Hong Kong-based Hang Lung Group Ltd. (HKSE: 0010), which has held non-binding talks on the subject.
International insurance group American International Group Inc. (AIG) (NYSE: AIG) has dropped out of the race to buy the controlling stake in IDB Holding Corp. Ltd. (TASE:IDBH) unit Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS), sources inform "Globes."
The companies still interested in buying Clal Insurance include Hong Kong-based Hang Lung Group Ltd. (HKSE: 0010), which has held non-binding talks on the subject.
AIG has been operating in Israel since 1997 and only survived the global financial crisis in 2008 thanks to major US government support. Several months ago AIG bought the holdings of its partner in AIG Israel the Aurec Group at a company value believed to be worth several hundred millions of shekels.
AIG told "Globes" that it does not comment on rumors.
Published by Globes [online], Israel business news - www.globes-online.com - on July 23, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013
Ron Stein and Irit Avissar