HSBC Continental Europe, a subsidiary of HSBC HOLDINGS (00005.HK) -0.700 (-0.925%) Short selling $140.23M; Ratio 15.860% , signed a Memorandum of Understanding (MOU) on the potential sale of HSBC Assurances Vie, a French life insurance business, to Matmut Societe d'Assurance Mutuelle, foreign news broke.Pursuant to the financial terms of the potential transaction, Matmut will acquire HSBC Assurances Vie (France) for EUR925 million in cash, which is expected to result in a pre-tax loss to HSBC Continental Europe of approximately EUR100 million, and is subject to regulatory approvals before completion, which is expected in 2H25.Related NewsCICC Selects STANCHART as Top Pick for HK Banks Next Yr; Mkt Still Needs to Price in 'Mild Rate Cut + Soft Landing' CycleHSBC Assurances Vie (France) has more than EUR20 billion in outstanding assets, EUR77 million in earnings in 2023 and a Solvency II ratio of 287%. As part of the potential transaction, HSBC Continental Europe and Matmut will enter into a long-term partnership arrangement, with HSBC Assurances Vie (France) and HSBC Global Asset Management (France) continuing their existing distribution arrangements.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-01-03 16:25.)