14th May 2015 05:53
LONDON (Alliance News) - Standard Chartered PLC is looking to sell its Hong Kong pension business, Reuters reported on Thursday.
The report, which cited people with knowledge of the matter, said the business, valued at about USD350 million, could attract the likes of Prudential PLC, Principal Financial Group, Metlife Inc and Manulife Financial Corp in an auction.
A deal would involve a 15-year distribution agreement between the Asia-focused bank and the buyer of the pension business.
http://uk.reuters.com/article/2015/05/14/uk-stanchart-hongkong-pensions-idUKKBN0NZ03H20150514
By Samuel Agini; [email protected]; @samuelagini
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