Deals
Standard Chartered Said Selling $4.4 Billion of Asian Assets
- Stressed Indian loan portfolio draws interest from SSG Capital
- U.K. bank seeks to pare balance sheet after record impairments
Standard Chartered Seeks to Pare Balance Sheet
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Standard Chartered Plc is seeking to sell at least $4.4 billion of assets in Asia, people with knowledge of the matter said, as the lender pares its balance sheet after booking record impairments.
The London-based bank is speaking with potential buyers for about $1.4 billion of stressed loans made to Indian firms including GMR Infrastructure Ltd., according to the people, who asked not to be named as the information is private. Standard Chartered has also started a sale of around $3 billion of assets in the rest of Asia, one of the people said. Those assets include loans as well as proprietary bond and equity investments in China, Indonesia and Malaysia, another person said.