The Asian bank and other parties have sold a stake in a corporate, investor and business services firm for HK6.469 billion.

Bank of East Asia and other entities have agreed to sell all the issued shares of Tricor, a business, corporate and investor services firm, and its subsidiaries, for a consideration of HK6.469 billion ($833 million). The shares have been bought by Trivium Investment, a Hong Kong-based firm owned by private equity giant Permira.

The share sale comes after BEA and NWS Holdings reviewed their strategic investment in Tricor, which is 75.61 per cent owned by the bank and 24.39 per cent owned by NWS Holdings, in each case through East Asia Secretaries.

BEA is expected to book a profit of approximately HK$3.100 billion from the share sale and use the money as general working capital and to pay for future business development.

The deal is subject to a number of regulatory clearances, a statement from the parties said.