MetLife (NYSE: MET), the New York-based insurer, 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 report said that sources indicate the talks are exclusive for assets under management worth about $100 billion.
According to PineBridge’s website, a subsidiary of billionaire Richard Li’s Pacific Century Group (PCG), an Asia-based private investment group, majority-owns PineBridge.
MetLife and PineBridge declined to comment.
(Source: ReutersReuters)
