According to people familiar with the matter, HSBC Holdings is close to selling its Australian loan business to Blackstone Group. This is part of a business streamlining operation under the leadership of Group CEO Ai Qiaozhi. People familiar with the matter said that Blackstone, an alternative asset management company headquartered in the US, defeated other companies during the bidding process and became the most likely buyer of HSBC's loan business. Representatives from HSBC and Blackstone each declined to comment.

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