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MetLife Acquires PineBridge's Non-CN Assets for US$800M; Pacific Century Group Retains CN Operations
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PCCW (00008.HK) Chairman Richard Li's Pacific Century Group has sold PineBridge Investments' assets outside mainland China to MetLife Investment Management for US$800 million in cash. The transaction is expected to be completed next year. In addition, based on PineBridge's financial metrics for 2025 and subsequent years, the transaction price could reach up to US$1.2 billion (around $9.3 billion). The transaction excludes PineBridge's joint ventures and private equity business in China. In response to this transaction, Pacific Century Group said that looking ahead, the group has strategically retained its mainland China business and will focus on advancing its core strengths through the development of Huatai-PineBridge and a uniquely positioned private fund business. AAStocks Financial News |
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