CVC-backed Sun Hung Kai Plans to Sell Unit

Sun Hung Kai & Co., which is backed by CVC Capital Partners, is mulling a sale of its SHK Financial unit, a brokerage and wealth management business, Reuters reported. No details were released, though Reuters reported that the company had held “informal discussions” with potential buyers. CVC agreed last year to buy up to 19% of Sun Hung Kai, paying about $275 million.

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