09:42 AM EDT, 10/21/2024 (MT Newswires) -- (Updates with responses from HSBC ( HSBC ) and BPCE in the last paragraph.)

HSBC Holdings' ( HSBC ) French life insurance business is considering bids and has attracted interest from BNP Paribas, BPCE, and Matmut, Bloomberg reported Monday, citing people familiar with the matter.

Non-binding bids for the unit, valued at over 500 million euros ($542 million), are expected by the end of October, the people reportedly told Bloomberg. Other potential bidders include Credit Mutuel Arkea, Groupama, and Cerberus Capital Management, the report said.

Deliberations are ongoing, with no final decision yet, the people reportedly told Bloomberg.

HSBC ( HSBC ) and BPCE declined to comment on the matter when contacted by MT Newswires, while BNP Paribas, Credit Mutuel Arkea, Groupama, and Cerberus Capital did not immediately respond to requests for comment. Matmut could not be reached for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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