(Reuters) – New York-based insurer MetLife Inc is in advanced talks to buy PineBridge Investments’ assets outside of China in a deal that could be valued at $1 billion to $1.5 billion, Bloomberg News reported on Monday.
The talks are exclusive for assets under management worth about $100 billion, the report said, citing sources.
PineBridge is majority-owned by a subsidiary of billionaire Richard Li’s Pacific Century Group (PCG), an Asia-based private investment group, according to PineBridge’s website.
MetLife and PineBridge declined to comment.
(Reporting by Harshita Meenaktshi in Bengaluru; Editing by Janane Venkatraman)
