Banco Bradesco S.A. acquired HSBC Bank Brasil S.A. - Banco Múltiplo and HSBC Servicos e Participacoes Ltda. from HSBC Holdings plc for $5.2 billion.
July 30, 2016
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Banco Bradesco S.A. (BOVESPA:BBDC4) entered into an agreement to acquire HSBC Bank Brasil S.A. - Banco Múltiplo and HSBC Servicos e Participacoes Ltda. from HSBC Holdings plc (LSE:HSBA) for $5.2 billion in cash on July 31, 2015. The purchase price is subject to adjustments to reflect the net asset value of the businesses at completion. HSBC Bank Brasil S.A. - Banco Múltiplo and HSBC Servicos e Participacoes Ltda. reported total assets of $54 billion and net assets of $3.7 billion. The transaction is subject to regulatory approval. As of August 3, 2015, Banco Bradesco beat out rival bidders for HSBC Bank Brasil S.A. - Banco Múltiplo and HSBC Servicos e Participacoes Ltda. As of January 5, 2016, Banco Bradesco announced that the Brazilian Central Bank has approved the acquisition. As of February 2, 2016, the transaction is subject to approval of Administrative Council for Economic Defense, CADE. As of April 4, 2016, The Brazil antitrust regulator Cade has suggested approving the transaction and will now proceed to vote on the transaction's approval. As of June 8, 2016, Brazil's antitrust CADE approved the transaction. The deal is expected to close in early July 2016.
The Goldman Sachs Group, Inc. (NYSE:GS) acted as financial advisor to HSBC. Banco Bradesco BBI S.A., JPMorgan Chase & Co. (NYSE:JPM) and Luiz O. Muniz of N M Rothschild & Sons (Brasil) Ltda. acted as financial advisors to Bradesco. HSBC Holdings plc (LSE:HSBA) acted as a financial advisor to itself. Aedamar Comiskey and Nicola Mayo in London and Alberto Luzafa¡rraga in Sao Paulo of Linklaters LLP acted as a legal advisor to HSBC Holdings plc., Pinheiro Guimarães - Advogados acted as legal advisor to HSBC Holdings plc and Anthony Oldfield, David Harkness, George Kleinfeld, Rae Lindsay, Robert Houck, Ali Burney, Andrew Coffield, Guled Yusuf, Nicholas Mace, Nicola Hemsley, Caireen McCluskey and a Lefosse Advogados team led by Carlos Mello of Clifford Chance LLP acted as a legal advisor to Banco Bradesco S.A.
Banco Bradesco S.A. (BOVESPA:BBDC4) acquired HSBC Bank Brasil S.A. - Banco Múltiplo and HSBC Servicos e Participacoes Ltda. from HSBC Holdings plc (LSE:HSBA) for $5.2 billion in cash on July 1, 2016.
Banco Bradesco is Brazil's leading private bank. Net Banking Product (NBP) breaks down by activity as follows:
- bank (83%): involved in retail banking, market and investment banking, private banking, asset management, specialized financial services (leasing, real estate loans, consumer loans, and other services);
- insurance (16.8%): automotive, health, accidents, pension fund management insurances, etc.;
- other (0.2%).
At the end of 2019, the group had BRL 368.2 billion of current deposits and BRL 345.3 billion of current credits.
Products and services are marketed primarily through a network of 4,478 branches worldwide.
BANCO BRADESCO S.A. 
