Deals
Billionaire Cheng-Backed Firm in Talks for Hong Kong Life
- China Strategic working with adviser on potential transaction
- Hong Kong Life has also drawn interest from other bidders
Photographer: Brent Lewin/Bloomberg
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China Strategic Holdings Ltd., an investment firm backed by billionaire Henry Cheng, is in talks to buy Hong Kong Life Insurance Ltd., according to people familiar with the matter.
China Strategic is working with an investment bank as it seeks to acquire Hong Kong Life, whose owners include OCBC Wing Hang Bank Ltd., the people said, asking not to be identified because the matter is private. The insurer has also drawn interest from other potential suitors, the people said.