Deals

MetLife Joins MassMutual in Seeking Hong Kong Sale

Insurer prepares to send out details to prospective buyers
Sale of Hong Kong business could fetch more than $600 million

Residential and commercial buildings are seen from Victoria Peak in Hong Kong, China, on Monday, Sept. 11, 2017. Hong Kong stocks fluctuated on Sept. 12 as automakers extended gains driven by China's plan to phase out fossil-fuel vehicles, while banks and property companies weighed on the benchmark index.Photographer: Billy H.C. Kwok/Bloomberg

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By Jonathan Browning

January 22, 2018 at 11:22 AM UTC

Updated on

January 23, 2018 at 1:44 AM UTC

This article is for subscribers only.

MetLife Inc. is seeking a sale of its Hong Kong insurance unit, joining international rivals including Axa SA and MassMutual that have pursued divestments in the Chinese territory, people with knowledge of the matter said.

New York-based MetLife is preparing to send out information on the Hong Kong business to prospective buyers in the next couple weeks, according to the people. The sale could raise more than $600 million, one of the people said, asking not to be identified because the matter is private.