December 17, 2018 / 10:12 AM / a month ago

REFILE-BRIEF-Standard Chartered To Spin Out Private Equity Business

(Removes extraneous word from headline)

Dec 17 (Reuters) - 2888.HK:

* SPIN OUT OF PRIVATE EQUITY BUSINESS

* TERMS OF AGREEMENT ARE CONFIDENTIAL AND TRANSACTION IS EXPECTED TO COMPLETE IN FIRST HALF OF 2019.

* PORTFOLIO COMPRISED OF PRIVATE EQUITY INVESTMENTS IN 35 COS ACROSS SOUTHEAST ASIA, INDIA, CHINA, SOUTH KOREA, MIDDLE EAST, AFRICA

* SPIN OUT OF PRIVATE EQUITY BUSINESS AND SALE OF MAJORITY OF SCPE’S INVESTMENT PORTFOLIO TO INCUR A CHARGE OF AROUND $160 MLN

* AGREED TERMS FOR SPIN OUT OF ITS PRIVATE EQUITY BUSINESS AND A SALE OF MAJORITY OF PVE INVESTMENT PORTFOLIO TO FUNDS MANAGED BY ICG STRATEGIC Source text for Eikon: Further company coverage:

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