South Korea's Hana Financial Group Inc. is in talks to sell a less than 50% stake in unit KEB Hana Bank (China) Co. Ltd. to CEFC China Energy, The Investor reported May 30, citing "a source familiar with the matter."

Hana Financial Chairman Kim Jung-tai and other executives met with CEFC China Energy founder and Chairman Ye Jianming earlier in 2017 in Shanghai to discuss a deal, another industry source told the outlet. China's banking regulator still has to approve the proposed deal.

KEB Hana Bank, the direct parent of KEB Hana Bank (China), said it is considering further localizing its Chinese operations but denied the involvement of CEFC China Energy.