4th Mar 2014 07:57
LONDON (Alliance News) - Asia-focused lender Standard Chartered PLC is nearing deals to sell about a half-dozen units in Europe, Asia and the Middle East, reported the Wall Street Journal citing people familiar with the deals.
The bank is in advanced talks to sell Standard Chartered Savings Bank and Standard Chartered Capital in South Korea, the Journal said. The report has not disclosed the details of the buyers.
According to the report, the businesses that the bank is selling are mostly small.
In early January, Standard Chartered had announced reorganization of its Wholesale Banking and Consumer Banking businesses. The Group had also implemented a simplified structure of eight geographic regions to enable greater efficiency and effectiveness.
The Group is scheduled to announce its full-year 2013 results on March 5.
Copyright RTT News/dpa-AFX
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