HSBC (HSBC) is in advanced talks to sell its German fund administration unit, Inka, to private equity firm BlackFin Capital Partners, Bloomberg News reported Wednesday, citing sources familiar with the matter.
Inka has about 400 billion euros ($435.33 billion) in assets under administration, and a deal could be reached in the coming weeks, the sources reportedly said.
French lender BNP Paribas is also in discussions to acquire HSBC's German custodian business, though no agreement has been finalized, and other bidders could emerge.
HSBC said it is reviewing strategic options for its securities services business in Germany but has not made any final decisions, according to the news outlet.
HSBC, BlackFin Capital Partners and BNP Paribas did not immediately respond to requests for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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