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Bank of East Asia, partner to sell share registry biz for HK$6.47B

Bank of EastAsia Ltd. and NSW Holdings Ltd. agreed to Tricor Holdings Ltd. to privateequity firm Permira for HK$6.47 billion.

Bank of East Asia and NSW Holdings hold 75.61% and 24.39%stakes, respectively, in the share registry business through East AsiaSecretaries (BVI) Ltd.

Under the agreement, the two companies will sell theirshares to Trivium Investment Ltd., a wholly owned subsidiary of Permira.

The proposed deal is subject to regulatory approvals.

Bank of East Asia expects to book a profit of HK$3.10billion from the sale. Proceeds from the disposal will be used for the bank'sgeneral working capital.

Goldman Sachs acted as sole financial adviser to the bankand NSW Holdings.