Deals
HSBC Weighs Bid for Aviva’s Asian Assets in Diversity Push
- Deliberations are early stage; other suitors are weighing bids
- Deal would help HSBC bolster its Singapore insurance business
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HSBC Holdings Plc, the bank that shook up its senior leadership this month, is considering a bid for Asian operations being sold by Aviva Plc as it seeks ways to diversify its business in the region, people with knowledge of the matter said.
London-based HSBC is in the early stages of weighing an offer for at least part of Aviva’s Asian business, the people said, asking not to be identified because the information is private. A deal would help HSBC bolster its insurance presence in Singapore and other parts of Southeast Asia, the people said.