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HSBC Reportedly Initiates Sale of Singapore Life Insurance Biz
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HSBC HOLDINGS (00005.HK) has commenced the process of selling its Singapore life insurance business and has appointed JP Morgan as the financial advisor, targeting a transaction value exceeding USD1 billion, Reuters reported, quoting people with the knowledge of the matter. HSBC has purportedly begun engaging with potential buyers, including Nippon Life Insurance and Dai-ichi Life (8750.JP), with non-binding bids expected to commence within a month. AASTOCKS Financial News Website: www.aastocks.com |
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