Stock Market News

MetLife in talks to buy PineBridge’s ex-China assets for $1 billion-$1.5 billion, Bloomberg News reports

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2024.10.21 02:40

(Reuters) – New York-based insurer MetLife Inc (NYSE:) is in advanced talks to buy PineBridge Investments’ assets outside of China in a deal that could be valued at $1 billion to $1.5 billion, Bloomberg News reported on Monday.

The talks are exclusive for assets under management worth about $100 billion, the report said, citing sources.

© Reuters. Signage is seen on the MetLife Inc building in Manhattan, New York, U.S., December 7, 2021. REUTERS/Andrew Kelly/ File Photo

PineBridge is majority-owned by a subsidiary of billionaire Richard Li’s Pacific Century Group (PCG), an Asia-based private investment group, according to PineBridge’s website.

MetLife did not immediately respond to a Reuters request for comment. PineBridge declined to comment.

3 hours ago

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