MetLife Is Said to Near Deal to Buy HK Tycoon Li’s PineBridge

Bloomberg12-23 20:47

(Bloomberg) -- US insurer MetLife Inc. is nearing a deal to buy PineBridge Investments’ assets outside of China from Hong Kong billionaire Richard Li’s Pacific Century Group, according to people ...

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A deal could value PineBridge’s roughly $100 billion in assets under management outside of China at about $1.3 billion to $1.4 billion, the people said.The potential agreement will likely exclude a China joint-venture with Huatai Securities Co., which managed more than $70 billion in assets as of the end of June, the people said. 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