Hong Kong's Baring Private Equity Asia (BPEA) is exploring a merger of two Hong Kong-based business services firms it owns, Tricor and Vistra, Bloomberg News reported on Saturday. BPEA - which Sweden-based private equity fund EQT agreed to buy earlier this year in a deal worth 6.8 billion euros ($7.5 billion) - is working on a merger that could value the two portfolio companies at between $7 billion and $8 billion, the report added. BPEA has notified Tricor and Vistra's creditors about the merger plan, the report said, citing people familiar with the matter.