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Bank of East Asia Starts Process to Sell Tricor Holdings

HONG KONG—A large internal bank in Hong Kong, underneath vigour from romantic financier Elliott Management Corp. to sell itself, is jettisoning a section that provides back-office services to a operation of companies including many Hong Kong and Singapore-listed firms.

Bank of East Asia Ltd. is operative with Goldman Sachs Group Inc. on a sale of Tricor Holdings Ltd., that is set to get underneath approach before a finish of a month, according to people informed with a situation. Private-equity firms including Carlyle Group LP and Baring…

Article source: http://www.wsj.com/articles/bank-of-east-asia-starts-process-to-sell-tricor-holdings-1462941168

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