(RTTNews) – MetLife, Inc. (MET), a life insurance major, is in discussion to acquire certain assets of PineBridge Investments, an asset manager, in a deal valued between $1 billion and $1.5 billion, Bloomberg reported quoting people familiar with the matter.
The talks, which are in advanced stage, are exclusively for assets under management or AUM of around $100 billion, outside of China.
PineBridge’s majority stake is owned by Asian billionaire Richard Li’s holding company, Pacific Century Group.
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Source : Nasdaq