BRIEF-French insurer Matmut planning to buy HSBC Assurances Vie France for 925 mln euros in cash
Reuters12-21 03:41
Dec 20 (Reuters) - HSBC /MATMUT:
* HSBC Continental Europe has signed a Memorandum of Understanding regarding the potential sale of its French life insurance business, HSBC Assurances Vie (France), to Matmut Société d’Assurance Mutuelle.
* Matmut would acquire HSBC Assurances Vie for cash consideration of 925 million euros ($967 million).
* This is estimated to generate a pre-tax loss of approximately 0.1 billion euros for HSBC Continental Europe.
* Completion of the Potential Transaction would be subject to relevant regulatory and competition approvals and is expected to occur in the second half of 2025.
($1 = 0.9576 euros)
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(Reporting by Sudip Kar-Gupta)
((sudip.kargupta@thomsonreuters.com;))
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