March 29, 2017 / 7:24 AM / 4 months ago

BRIEF-Standard Life says to sell HK insurance business to its own Chinese JV

1 Min Read

March 29 (Reuters) - Standard Life Plc:

* Have been agreed to sell its Hong Kong insurance business,Standard Life (Asia) Limited to Standard Life’S Chinese joint venture insurance business, Heng An Standard Life Insurance Company Limited

* Transaction is subject to obtaining local regulatory and other approvals in Mainland China and Hong Kong ,this could take up to 18 months.

* Final consideration will be calculated as at the date of completion and will be payable in cash. Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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