Hana to Sell Stake in Life Insurance Unit to HSBC

SEOUL (Reuters) - South Korea's Hana Financial (086790.KS: Quote, Profile, Research, Stock Buzz) on Monday said it had entered a agreement to sell a stake in its life insurance unit to HSBC Holdings Plc (HSBA.L: Quote, Profile, Research, Stock Buzz) (0005.HK: Quote, Profile, Research, Stock Buzz).

In a filing to the Korea Exchange, South Korea's No. 4 banking group said it was selling 50 percent minus one share to HSBC. The value of the deal was not disclosed.

(Reporting by Marie-France Han; editing by Keiron Henderson)