Bank of East Asia Ltd (BEA) said in March that it had agreed to carry out the review, pausing four-year-old legal proceedings brought by activist investor Elliott Management demanding change at the lender.
HONG KONG: Bank of East Asia Ltd (BEA), which counts Guoco Company Management Ltd as a substantial shareholder, has decided to initiate a sale of its insurance business and is seeking a strategic partner for its mainland China business following a review of its portfolios and assets.
The Hong Kong-based bank said in March that it had agreed to carry out the review, pausing four-year-old legal proceedings brought by activist investor Elliott Management demanding change at the lender.
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