Skip to content

Principal Weighs Selling Hong Kong Pension Business, Sources Say

  • Sale of MPF business could raise a few hundred million dollars
  • Other banks and insurance companies could be potential suitors

Principal Financial Group Inc. is considering selling its pension fund business in Hong Kong, people familiar with the matter said, a move that would help the US financial services firm streamline its portfolio.

The company is working with an adviser to sound out preliminary interest in the assets, the people said, asking not to be identified because the matter is private. A sale could fetch a few hundred million dollars, and attract interest from insurers and banks seeking to expand in the Asian financial hub, the people said.