HSBC share price: Santander still interested in UK bank’s Brazilian unit

on Jul 31, 2015
Updated: Oct 21, 2019
Listen

Banco Santander Brasil SA “remains in the dispute” for HSBC Holdings Plc’s (LON:HSBA) Brazilian unit, according to the lender’s chief executive officer Jesús Zabalza. During an earnings conference call yesterday, Santander Brasil’s boss said that the bank was interested in acquiring HSBC Bank Brasil Banco Múltiplo and that it had made a “very good” offer for the unit. Zabalza did not share any additional details.

Earlier this month Reuters reported that Banco Bradesco SA, Brasil’s second-largest private-sector bank, had entered into exclusive talks to acquire HSBC’s local business after outbidding other potential buyers. One source familiar with the matter told Reuters at the time that Bradesco’s offer valued HSBC Brasil at about 12 billion reais ($3.56 billion), or 1.2 times the book value of the unit. Yesterday Zabalza declined to comment on whether Bradesco was in exclusive negotiations with HSBC.

“All I can tell you is that we’re very interested, the offer we made was a very good one,” Zabalza said, as quoted by Reuters. “We’ll only write off our chances when the process is over.”
In other HSBC news, the UK banking giant yesterday announced that it had appointed Scott Couzner as head of mergers and acquisitions in Australia. Couzner joins HSBC from UBS, where he was most recently head of the Southeast Asian M&A team. HSBC said that his appointment was part of the bank’s strategy to capture growth from Asian investors into Australia.
In his new position, Couzner will report to Jason Rynbeck, who oversees HSBC’s M&A offering in the Asia Pacific region, as well as Sean Henderson, head of capital financing in Australia.
In today’s trading, HSBC shares were down 0.1 percent at 576.40p, as of 08:18 BST. The stock has fallen 5.3 percent since the start of the year and the company’s share price currently stands at 112.3 billion.
As of 09:35 BST, Friday, 31 July, HSBC Holdings plc share price is 577.15p.

Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.

Ad

Want easy-to-follow crypto, forex & stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at Invezz Signals.

Learn more
UK Europe Finance & Banking Stock Market World