- Standard Chartered (OTC:SCDRF, OTCPK:SCBFF) has agreed to sell its Hong Kong-based consumer finance business to a consortium that includes Pepper Australia Pty and York Capital Management, in a deal estimated between $600M-$700M, Reuters reports.
- The sale of the unit, called PrimeCredit, comes as the bank tries to address share price underperformance and difficulties in markets such as South Korea.