Standard Chartered completes Hong Kong and Shenzhen consumer finance businesses sale

The sale was to an international consortium.

Standard Chartered Bank (Hong Kong) Limited has announced the completion of the sale of its consumer finance businesses.

According to a release from Standard Chartered, it has completed the sale of its subsidiaries, PrimeCredit Limited and Shenzhen PrimeCredit Limited to an international consortium.

The consoritium is led by China Travel Financial Holdings Co., Limited, as majority investor, together with Pepper Australia Pty Limited and York Capital Management Global Advisors, LLC.