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Allianz Reportedly Most Likely Buyer of HSBC HOLDINGS' Singapore Insurance Unit
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Allianz defeated other insurers to become the most likely buyer of HSBC HOLDINGS (00005.HK)'s HSBC Life Singapore, Bloomberg, citing sources, reported. Allianz and HSBC HOLDINGS are finalizing transaction details and an announcement could be made soon, sources said. HSBC HOLDINGS is purporteldy seeking a valuation of up to USD2 billion for the business. A spokesperson for HSBC HOLDINGS said the group is conducting a strategic review of its insurance business in Singapore and no decision has been made. The group is committed to developing Singapore into an international wealth management and wholesale banking hub, emphasizing that Singapore is a key part of its strategy as well as a priority region for investment and growth. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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