Chinese conglomerate CITIC Group is reportedly in talks with London Stock Exchange (LSE) to buy Seattle-based global asset management firm Russell Investments.
The deal is expected to be worth nearly $1.8bn, Reuters reported citing people familiar with the matter.
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The talks are ongoing and the deal could still fall through, the publication quoted sources as saying.
If the deal is completed, it would give CITIC – which has a financial services arm and owns CITIC Asset Management -an entry into the US market.
LSE officially put Russell Investments, which it bought for $2.7bn in 2014, up for sale in February this year.
The decision followed a comprehensive review that focused on the strategic fit of Russell’s investment business with LSE’s long-term strategy.
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