HSBC Holdings Plc $HSBA (+0,01 %) is reportedly close to finalizing the sale of its German fund administration business to BlackFin Capital Partners. The private equity firm is finalizing terms to acquire HSBC's Inka unit, Bloomberg reported, citing people familiar with the matter. The Inka unit manages assets of around €400 billion ($436 billion).
The deal could be finalized in the coming weeks, according to the same sources, who wished to remain anonymous due to the confidential nature of the information. However, no official agreement has yet been reached.
In a separate development, BNP Paribas SA, a French bank, is reportedly in talks to potentially acquire HSBC's German custody business. Final agreements have not yet been reached for this deal either, and there could be other potential buyers for the custody business.
