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HSBC Confirms Discussions
Hamilton, Bermuda: 15th March 2005 - HSBC has confirmed it is in discussions to sell 100 per cent of its Australian asset aanagement business, HSBC Asset Management (Australia) Limited, to Challenger Financial Services Group Limited.
Completion of the transaction is subject to agreeing final terms and to obtaining the necessary regulatory approvals.
A further announcement will be made as and when appropriate.
This new release is issued by The Hongkong and Shanghai Banking Corporation Limited