The pair’s joint bid has reportedly been selected as the preferred option by Dexia, which was also said to be in talks with European buyout firm Permira, the Macquarie Group and New York Life Insurance.
Buyout houses Advent International, CVC and Warburg Pincus were believed to have tabled offers earlier this year, but have since pulled outb of the sale process.
Hony and GCS will part with about €500m for the unit.
Dexia had to be bailed out by the French and Belgian governments last year and has since sold Banque International a Luxembourg, its half of RBC Dexis Investor Services.
It is also attempting to sell Turkish lender Denizbank, Reuters reported.
Final bids from the interested parties were expected in the middle of June, with Dexia hoping to have chosen a buyer before the end of last month.
Dexia AM said its assets under management rose to €79.3bn in the first quarter of 2012 from €78bn in the previous quarter.
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