Morgan Stanley Said to Sell CICC Stake to KKR, GIC

Morgan Stanley is selling its 34.3 percent stake in China International Capital Corp. to Kohlberg Kravis Roberts & Co., TPG Capital, Singapore’s Great Eastern Holdings Ltd. and the island nation’s sovereign-wealth fund, four people with direct knowledge of the deal said.

Morgan Stanley plans to sell stakes of about 10 percent each to TPG and KKR, and about a 5 percent stake to Great Eastern, the insurer controlled by Oversea-Chinese Banking Corp., said the people, who declined to be identified because the matter isn’t public. Government of Singapore Investment Corp. will buy the remainder, the people said. The 34.3 percent stake is valued at about $1 billion, two of the people said.