Page 1 of 1

Sale of HSBC’s Brazil Business to Bradesco Get Approval

Posted: Wed Jun 08, 2016 7:35 am
by 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.

The new world of online trading, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.

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)