Deals
BEA Said to Shortlist Baring, Ping An for $800 Million Registry
- Ping An, Link compete with buyout giants for services provider
- Bank facing pressure from activist investor Elliott Management
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Bank of East Asia Ltd., the Hong Kong lender facing pressure from billionaire activist investor Paul Singer, narrowed the list of bidders for a share registry business with more than 125 years’ history, people familiar with the matter said.
The bank invited suitors including Baring Private Equity Asia Ltd. and Australia’s Link Administration Holdings Ltd. to submit second-round offers for its Tricor Holdings Ltd. unit, the people said, asking not to be identified as the talks are private. China’s Ping An Insurance Group Co. and U.K. buyout firm CVC Capital Partners Ltd. have also been shortlisted, according to the people. A deal could value the business at about $800 million, one of the people said.