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StanChart sells Asia real estate business to Actis: source

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Reuters LONDON

LONDON (Reuters) - Standard Chartered has completed the sale of its principal finance real estate business in Asia to private equity firm Actis, a source with direct knowledge of the matter said on Monday.

The 20-strong StanChart team will join Actis, the source said. Reuters reported in March the two parties had reached a provisional agreement on the deal.

A spokesman for the bank confirmed the deal.

(Reporting By Lawrence White, editing by David Evans)

Disclaimer: No Business Standard Journalist was involved in creation of this content

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First Published: Aug 20 2018 | 7:47 PM IST

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