Standard Chartered Plc
The unit holds about $700 million in investments, primarily across China, South Korea, India and Southeast Asia. If a deal is reached, the investments and their managers will be spun off to Actis, two sources told the newswire.
The bank is also in talks to divest its private equity unit, which is also housed within the principal finance business, one of the sources said. Credit Suisse is said to be advising StanChart on the sale of the private equity unit, which has roughly $3.5 billion in investments, of which $1.2 billion is from the British lender's own book.
StanChart was said to be exiting its principal finance business, which booked an operating loss of $217 million in 2016, Reuters reported.
