South Africa's Standard Bank Group (SBK.JO) has agreed to sell
its Asian loan portfolio, of around $1 billion, which includes
financing of mining projects in Mongolia, Indonesia and other
countries, to BNP Paribas SA (BNP.FR) and others, Reuters reported
Wednesday, citing two people familiar with the matter.
BNP Paribas has agreed to buy at face value the Mongolian part
of the portfolio, worth about $350 million, along with some other
loans in Asia, one of the sources said. The other potential buyers
were not identified.
Standard Bank declined comment on the deals to Reuters and no
one was immediately available for comment at BNP Paribas.
Full story at
http://www.nytimes.com/reuters/2013/10/30/business/30reuters-standard-bnpparibas.html?ref=business
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