- Standard Chartered said it had agreed terms for a spin out of its private equity business and a sale of the majority of its private equity investment portfolio.

The assets would be sold to funds managed by ICG Strategic Equity, part of Intermediate Capital Group.

The portfolio was comprised of private equity investments in 35 companies across Southeast Asia, India, China, South Korea, the Middle East and Africa.

Affirma Capital would manage the group portfolio acquired by the ICG funds.

Standard Chartered said the terms of the agreement were confidential, with transaction expected to be completed in the first half of 2019.

At 1:28pm: [LON:STAN] Standard Chartered PLC share price was -17p at 587.7p

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