21st Jul 2015 05:39
LONDON (Alliance News) - Banco Bradesco SA entered exclusive talks late on Monday to acquire the Brazilian arm of HSBC Holdings PLC, Reuters reports, citing a person with direct knowledge of the deal.
The source told Reuters that should HSBC accept the offer from Bradesco, the second-largest private sector bank in Brazil, a deal could be announced before the end of July.
The bid values HSBC Bank Brasil Banco Multiplo at around BRL12 billion, or USD3.75 billion, the source added.
http://uk.reuters.com/article/2015/07/21/uk-hsbc-bank-brasil-m-a-banco-bradesco-idUKKCN0PV04220150721
By Sam Unsted; [email protected]; @SamUAtAlliance
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