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Investing.com -- HSBC Holdings Plc (LON:HSBA) is reportedly nearing a deal to sell its German fund administration business to BlackFin Capital Partners (WA:CPAP). The private equity firm is currently finalizing the terms of the acquisition of HSBC’s Inka unit, according to Bloomberg, citing individuals familiar with the matter. The Inka unit manages approximately €400 billion ($436 billion) of assets.
The deal could be finalized in the coming weeks, according to the same sources, who wished to remain anonymous due to the confidential nature of the information. However, no official agreement has been reached as of now.
In a separate development, BNP Paribas SA (ETR:BNPP), a French bank, is reportedly in discussions to potentially acquire HSBC’s German custodian business. The final agreements for this deal have not been reached either, and there could be other potential buyers for the custodian operations.
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