Sale of HSBC’s Brazil Business to Bradesco Get Approval

[kreslik.news]

HSBC Holdings plc announced on 3 August 2015 that it had entered into an agreement to sell its entire business in Brazil, comprising HSBC Bank Brasil S.A – Banco Multiplo and HSBC Servicos e Participacoes Ltda, known collectively as HSBC Brazil, to Banco Bradesco for US$5.2 billion.

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HSBC has confirmed that the transaction was unanimously approved on 8 June by Brazil’s competition agency, the Brazilian Administrative Council for Economic Defence, and it is expected to be completed ... (read more)