LONDON (Alliance News) - Canadian insurer Manulife Financial Corp is getting closer to a deal to buy the Hong Kong pensions business of emerging markets bank Standard Chartered PLC for about USD400 million, Reuters reported on Wednesday. The report, which cited people familiar with the matter, said the sale would follow Standard Chartered's move to exit the consumer unit in Hong Kong last year. http://www.reuters.com/article/2015/09/09/manulife-financi-stanchart-pensions-idUSL4N11F22I20150909 By Samuel Agini; samagini@alliancenews.com; @samuelagini Copyright 2015 Alliance News Limited. All Rights Reserved.
Canada's Manulife Financial is close to finalising a deal to buy Standard Chartered's Hong Kong pensions business of emerging markets for circa. $400m, as Manulife steps up its Asian presence, in a quest for faster growth. This sale marks a further retreat from Hong Kong by Standard Chartered, following its exit from the consumer finance unit last year.