The BCRA approved the sale of HSBC to Galicia
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4 Articles
The Central Bank of the Argentine Republic (BCRA) today approved the sale of HSBC Argentina to Grupo Financiero Galicia (GFG) and Banco Galicia, the transaction that had been announced in April by both parties and which includes “the entire operation of HSBC Argentina in the country”, including the bank, the administrator of Common Investment Funds and the insurance companies it controlled. “This regulatory approval is a necessary and important …
The BCRA approved the sale of HSBC Argentina to Grupo Financiero Galicia.
The Central Bank of the Argentine Republic (BCRA) approved the sale of HSBC Argentina to Grupo Financiero Galicia and Banco Galicia, both entities informed the market. It was estimated that the transaction would close for $475 million in shares and cash and the assumption of ON of the British entity for u$s 100 million. In a press release, HSBC said that “the transaction includes the entire operation of HSBC Argentina in the country, including t…
The confirmation of the transaction for about US $550 million was announced through a statement.
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